Bipartisan Senate bill would end unemployment payments for ‘jobless millionaires’

The following is from Just the News.

A bipartisan effort is underway in the Senate to end what lawmakers are calling unemployment payments for “jobless millionaires.”

“Nearly 15,000 people who made $1 million or more last year were paid over $200 million in jobless assistance,” according to statement released Thursday on the effort by bill co-sponsor Iowa GOP Sen. Joni Ernst

The bill, titled Ending Unemployment Payments to Jobless Millionaires Act of 2023, is also sponsored by Sens. Jon Tester, D-Montana, and Mike Braun, R-Indiana.

Utah GOP Rep. John Curtis has introduced a companion bill in the House.

In total, 14,951 millionaires collected $213.3 million in unemployment compensation in 2022, according to IRS figures cited by the lawmakers. 

The amount includes nearly $4 million paid to over 300 multi-millionaires earning $10 million or more.

Each of the unemployed millionaires was paid about $14,265, on average, and in the previous two years, nearly half a billion dollars in jobless benefits have been paid to out-of-work millionaires, the lawmakers also say.

Link to article here.

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