Unemployment benefits may be coming to an end for many New Jersey residents. Rep. Frank Pallone (D) told NJTV News Managing Editor Mike Schneider that about 90,000 New Jerseyans will lose their benefits.
“The problem is that the House doesn’t come back in until the first week or Jan. 6, so unless we go back, which isn’t likely on Dec. 28, unemployment compensation will expire for 90,000 New Jerseyans, about 1.43 million Americans across the country and then as you get into January, it only gets worse because more and more people will reach the deadline,” said Pallone.
Pallone says that some congressmen say that unemployment is getting better but people continue to look for jobs and can’t find them.
According to Pallone, unemployment benefits help boost the economy. For every dollar used in unemployment benefits, Pallone says that it boosts the economy by $1.50.
Pallone also says that his opposition of the budget in Congress was not only because it did not include unemployment benefits but because it was set to effect retirees, Medicare cuts and reductions in pensions for military and federal employees.
In order for unemployment benefits not to be cut, Pallone says that a combination of closing corporate loopholes would be better than it effecting retirees.
“The fact of the matter is that it didn’t include unemployment compensation and I’m very concerned about all these people that as of Dec. 28 they’re not going to have any money essentially. Many of them are just living on that,” said Pallone.
As for the Affordable Care Act, Pallone says it will work effectively and that it will allow many that didn’t have insurance to have access to a plan.