[Congressional Record (Bound Edition), Volume 149 (2003), Part 9]
[House]
[Pages 12590-12591]
[From the U.S. Government Publishing Office, www.gpo.gov]




                      EXTEND UNEMPLOYMENT BENEFITS

  The SPEAKER pro tempore. Under a previous order of the House, the 
gentlewoman from California (Ms. Watson) is recognized for 5 minutes.
  Ms. WATSON. Mr. Speaker, at the end of this month, millions of 
unemployed Americans will begin to lose their benefits under the 
Temporary Extended Unemployment Compensation program. In my State, the 
State of California, 150,000 people will run out of benefits and still 
not have a job on May 31. Congress needs to act to extend these 
benefits.
  During a recession, unemployment insurance is one of the most 
efficient ways to help Americans and to keep the economy moving. 
Unemployment insurance puts cash in the hands of people who need it 
most, people who will spend the money on rent and groceries, rather 
than put it in the bank.
  Unemployment insurance is cost-effective. Unlike the Republican 
budget, the Federal Unemployment Insurance Trust Fund currently has a 
surplus of

[[Page 12591]]

more than $21 billion. That money can easily meet the needs of 
America's unemployed until we can get the economy moving again.
  Instead, the President and the Republican Party have spent their time 
and energy trying to pass tax cuts for wealthy investors. This House 
has passed a tax cut totaling more than $500 billion. That is money 
that will not go to unemployed working families but, instead, to the 
President's wealthy political supporters. In fact, if we were to take 
all the money that the Republicans have set aside for their tax cut, we 
could create high-paying jobs for all the 1.7 million Americans who 
have been laid off since the President's last economic plan in 2001.
  Mr. Speaker, it is clear that the President and his economic team 
have managed our economy miserably. Now is not the time to trust the 
President again when he says he has a jobs plan. Let us act to extend 
unemployment insurance and make sure that American families can get 
back on their feet.

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