Relief for states proposed
President Obama has proposed a respite for states that borrowed from the federal government to pay their citizens’ unemployment benefits.
President Obama has proposed a respite for states that borrowed from the federal government to pay their citizens’ unemployment benefits. Under the 2009 stimulus act, states that took loans from Washington to pay jobless claims paid no interest for nearly two years. That grace period expired on Dec. 31, leaving 30 states together owing $42 billion. Some businesses face mandatory increases in federal payroll taxes to help repay the loans.
In his 2012 budget, Obama will propose waiving the tax hikes and interest payments for two more years. House Republicans say they’ll oppose any payroll-tax increase, even if it’s deferred until 2014.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
'A financial windfall for Iranian terrorism'
Instant Opinion Opinion, comment and editorials of the day
By Harold Maass, The Week US Published
-
Orangutan heals cut with medicinal plant
Speed Read A Sumatran orangutan in Indonesia has been self-medicating to heal a wound on his cheek
By Peter Weber, The Week US Published
-
Turkey halts trade with Israel in latest Gaza rift
Speed Read The country plans to join South Africa's genocide case against Israel
By Peter Weber, The Week US Published
-
Arizona court reinstates 1864 abortion ban
Speed Read The law makes all abortions illegal in the state except to save the mother's life
By Rafi Schwartz, The Week US Published
-
Trump, billions richer, is selling Bibles
Speed Read The former president is hawking a $60 "God Bless the USA Bible"
By Peter Weber, The Week US Published
-
The debate about Biden's age and mental fitness
In Depth Some critics argue Biden is too old to run again. Does the argument have merit?
By Grayson Quay Published
-
How would a second Trump presidency affect Britain?
Today's Big Question Re-election of Republican frontrunner could threaten UK security, warns former head of secret service
By Harriet Marsden, The Week UK Published
-
'Rwanda plan is less a deterrent and more a bluff'
Instant Opinion Opinion, comment and editorials of the day
By The Week UK Published
-
Henry Kissinger dies aged 100: a complicated legacy?
Talking Point Top US diplomat and Nobel Peace Prize winner remembered as both foreign policy genius and war criminal
By Harriet Marsden, The Week UK Last updated
-
Trump’s rhetoric: a shift to 'straight-up Nazi talk'
Why everyone's talking about Would-be president's sinister language is backed by an incendiary policy agenda, say commentators
By The Week UK Published
-
More covfefe: is the world ready for a second Donald Trump presidency?
Today's Big Question Republican's re-election would be a 'nightmare' scenario for Europe, Ukraine and the West
By Sorcha Bradley, The Week UK Published