Government Mandated Benefits Essay example

635 Words Oct 22nd, 2010 3 Pages
Running head: A LITTLE RELIEF DURING RISING UNEMPLOYMENT

A Little Relief During Rising Unemployment

The article I found is titled “Unemployment Extension 2009 – H.R. 3548 U.S. Gov’t Extends Unemployment Benefits, Compensation for 20 Weeks.” This article was written in response to the rising unemployment rates in America. Unemployment Insurance provides income to those workers who are laid off by no fault of their own and allows them enough time to look for a job comparable to the one they had. The system is run and funded by state and federal taxes paid by employers. We’re in a recession, and recessions are associated with rising unemployment as a slowdown in the growth of consumer spending plays a huge role.
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The laws and concepts discussed in this article that would also help in the area of benefits are The Worker, Homeownership, and Business Assistance Act of 2009, The American Recovery and Reinvestment Act of 2009 (otherwise known as the 2009 economic stimulus plan), and the Emergency Unemployment Compensation.
With The American Recovery and Reinvestment Act of 2009, some of the provisions of the law primarily affect businesses. * Making Work Pay Tax Credit. The 2010 withholding rates, contained in Notice 1036, reflect reduced withholding as directed by the ARRA. An optional withholding procedure is available for pension plan administrators. * Work Opportunity tax credit. This newly-expanded credit adds returning veterans and "disconnected youth" to the list of new hires covered by the credit that businesses may claim (Internal Revenue Service).
They are way too many people unemployed and struggling to take care of their families. My recommendation would be to create more jobs where possible in an effort to strengthen the community and ensure that employers continue to report and pay premiums on employee wages each quarter so that when the situation presents itself, there will be a little peace during the difficult time.

References

Gott, L. (November 15, 2009). Unemployment Extension 2009 – H.R. 3548
(U.S. Gov’t Extends Unemployment

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