Statements on Introduced Bills and Joint Resolutions

Floor Speech

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Mr. REED. Mr. President, today I am introducing the Emergency Unemployment Compensation Extension Act of 2013 to ensure that 1.3 million unemployed Americans, including 4,900 Rhode Islanders, will not lose unemployment insurance at the end of the year.

Unemployment insurance, UI, is a vital lifeline for individuals and the economy. It provides a temporary weekly benefit t5o those who are looking for work and were laid off through no fault of their own.

Economists across the spectrum agree that maintaining unemployment insurance will grow our economy, spur consumer demand, and help businesses, States, and job seekers. Alternatively, according to the Economic Policy Institute, the failure to renew UI could cost our economy 310,000 jobs in 2014.

Extending unemployment insurance is a key part of keeping our economy moving forward. Indeed, continuing UI is part of a broad range of pro-growth and pro-jobs policies we should be enacting. I am pleased to be joined in this effort by Senators Stabenow, Harkin, and Whitehouse, and I urge our colleagues to join us in cosponsoring and pressing for action on this important legislation.

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