Friday, July 23, 2010

Obama Signs Unemployment Bill

The unemployment extension bill has finally been passed, and signed by President Obama.

Checks Are Coming: Obama Signs Unemployment Bill

Checks coming soon: Obama signs hard-fought extension of long-term jobless benefits

Federal checks could begin flowing again as early as next week to millions of jobless people who lost up to seven weeks of unemployment benefits in a congressional standoff.

President Barack Obama on Thursday signed into law a restoration of benefits for people who have been out of work for six months or more. Congress approved the measure earlier in the day. [...]

At stake are up to 73 weeks of federally financed benefits for people who have exhausted their 26 weeks of state jobless benefits. About half of the approximately 5 million people in the program have had their benefits cut off since its authorization expired June 2.

They are eligible for lump-sum retroactive payments that are typically delivered directly to their bank accounts or credited to state-issued debit cards.

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