US Congress Passes US$18-bln Jobless Aid Bill
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The US Congress on Thursday passed a US$18-billion bill to help the country's jobless for a two-month extension.
The House of Representatives voted 289 to 112 to restore unemployment benefit which expired at the end of March. The Senate had approved it by a 59-38 margins earlier in the day. The bill is now ready for President Barack Obama to sign into law.
The legislation also extends a stopgap health insurance program, a small business loan program, satellite television licensing, and national flood insurance.
"We have a responsibility to make sure out-of-work Americans can still access the vital safety-net programs they need to keep a roof over their heads and food on the table," said Democratic Senator Max Baucus.
Baucus, chairman of the Senate Finance Committee, said the US Congress would work "to pass a longer-term solution and create the jobs that will get our economy moving again."
Obama thanked Congress for passing the temporary jobless benefits extension, saying it was critical to help struggling families make ends meet.
"Millions of Americans who lost their jobs in this economic crisis depend on unemployment and health insurance benefits to get by as they look for work and get themselves back on their feet," Obama said in a statement.
"But as I requested in my budget, I urge Congress to move quickly to extend these benefits through the end of this year."
Republicans had opposed the jobless plan, saying that the bill would worsen the ballooning U.S. deficit and burden future generations.
"It is tragic that we are condemning our children and grandchildren to a legacy of higher taxes and a lower standard of living because of these reckless and destructive decisions not to pay for our spending," said Republican Senator Jim Bunning.
The unemployment rate has been stuck at 9.7 percent for three straight months, close to its highest levels since the early 1980s. More than 8 million people lost their jobs since the beginning of the recession in December 2007. Currently, total unemployed Americans are about 15 million.
The U.S. economy will see moderate economic recovery in coming quarters, but unemployment remains a major challenge, said Federal Reserve Chairman Ben Bernanke on Wednesday.
The International Monetary Fund predicted Wednesday that the U.S. unemployment rate will remain at about 9 percent through the end of 2011.
(Xinhua News Agency April 16, 2010)