Dems’ latest unemployment extension unveiled

From the offices of Sens. Max Baucus (D-Mont.) and Harry Reid (D-Nev.) comes this description of the latest unemployment benefits extension being put forth by the Democrats:

Unemployment Insurance Extension. Certain unemployment insurance benefits expired on February 28, 2010. Prior to expiration, an unemployed worker could receive up to 26 weeks of unemployment benefits provided by the state in which they were employed. After the state-provided benefits were exhausted, the worker could qualify for 34 more weeks of benefits provided by the federal government. If that person was unemployed in a state with an unemployment rate above 6 percent, they qualified for an additional 13 weeks of benefits also provided by the federal government. Unemployed workers in states with an unemployment level over 8.5 percent qualified for an additional six weeks of benefits also provided by the federal government. In addition, the federal government paid 100 percent of the cost of state Extended Benefits programs which provided up to 13 additional weeks of benefits for unemployed workers who had exhausted regular state benefits or Emergency Unemployment Compensation. Last year’s economic recovery bill increased weekly unemployment benefits by an additional $25 per week.

This proposal extends these provisions, including increased unemployment benefits, retroactively to March 1, 2010 through December 31, 2010. This proposal is estimated to cost $70 billion over ten years.

Democrats are hoping to vote this week on the measure, which is part of a much larger package of tax break extension, transportation funding and aid to states.