Benefits of Congress
Due to the current economic crisis brought about by the unprecedented recession, the congress has set up schemes that enable certain folks to receive unemployment benefit after they have exhausted their minimum benefits. These benefits are often awarded to people who are unemployed but are looking for job opportunities. Let’s discuss some of the benefits we receive from congress.
1. Health insurance coverage
Congress passed a legislation that provided up to 65% grant to cover health insurance of unemployed workers. A special program known as COBRA was started so that taxpayers’ still have health insurance cover even after they loose their job. Since the funding, many people have enrolled for this program in the hopes of safeguarding their insurance cover.
2. Home buyers enjoy extended credit
Congress passed a law $8000 for first time homeowners. As a result, many people have ventured into real estate without the fear of high rates, or short sale for that matter. Basically, the legislation granted lower credit for first time homebuyers.
3. Social security benefits
President Obama also called for increased Social Security benefits in a lot of $250 checks. These checks were channeled out to taxpayers registered in Railroad Retirement, Veterans Administration, as well as Social Security beneficiaries.
4. Extended unemployment benefits
With companies making labor cuts, many Americans are finding it harder to get a new job, which means that the time it takes to get a new job becomes longer than the period they start collecting unemployment reimbursements. Therefore congress may have to extend the period of collecting benefits, especially to the unemployed.
5. Incentive to hire more people
Congress came up with incentives for company’s hiring new employees, but the proposal was rejected before it was enacted into law. However, congress is still considering a number of proposals seeking to offer incentives for businesses to hire more workers.
While the congress contemplates whether to give out incentives or not, there is strong criticism from various branches in the government.