Hello everyone and welcome to this episode of Ignition Time.
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Well, speaking of hype, folks, here's some very interesting news.
Congressman Alexandria Ocasio Cortez from New York is going to introduce a bill
to extend pandemic unemployment insurance to 2022.
Here's a headline of an article on your screen from CNBC's
make it, Congresswoman alexandria Ocasio Cortez
is actually calling for this pandemic unemployment insurance and all
the associated programs to be extended until February 2022.
In fact, she announced this in a virtual town hall in the past couple of days,
and she said she will introduce a bill to extend federal unemployment programs
established under the Cares Act, which, as you know, have expired over labor day.
If this is passed, this could extend unemployment insurance
and make it retroactive from September 6 all the way through February 1, 2022.
Now, millions of Americans and their
families have lost access to these federal unemployment programs,
including the Pandemic Unemployment Assistance Program,
which was a crucial program for free lance workers, gig workers, part time workers,
and all the programs that help the long term unemployed.
Also, the $300 weekly booster that was
created to supplement the low state unemployment benefits is gone.
Here's a quote from Congressman Alexandria Ocasio Cortez,
I've been very disappointed on both sides of the aisle that we've just simply
allowed pandemic unemployment assistance to completely lapse when we are clearly
not fully recovered from the consequences of the pandemic.
Now, she added, she's not not sure whether
this bill can be passed, but she said she simply could not allow
this to happen without at least trying to extend jobless aid.
In fact, here's a tweet on your screen
from Aida Chavez, who is a Washington, DC, correspondent for The Nation,
and she is announcing what Congressman Alexandria Ocasio Cortez
is doing. So you can see this image on your screen,
congressman Alexandria Ocasio Cortez
introduces a bill to extend pandemic unemployment insurance.
She's going to introduce a bill to extend all federal pandemic unemployment insurance
through February 1, 2022. If passed the benefits will be retroactive to the 6th September.
And so this is super interesting, folks,
let me know whether you feel this really has a chance of passing.
I have to tell you that although this sounds promising,
I'm not entirely confident that this really has a chance of passing.
In fact, let's see exactly what Congressman Alexandria Ocasio Cortez said
in this virtual town hall in the last couple of days with NY 14.
This was a virtual town hall with Congressman Alexandria Ocasio Cortez.
Let's roll the tape and hear what she had
to say as she announces that she's going to introduce a bill to extend all
federal pandemic unemployment insurance through February 1, 2022.
So do you think this really has a chance of passing?
Let's first hear from Congressman Cortez and let's roll the tape and watch.
Now.
Secondarily, one of the things that we're taking a look at is
re is on unemployment benefits.
Now, unemployment benefits expired.
As many of you may know on September 6.
This is an issue that's affecting up to 10% of people in New York City.
Maria, that is affecting up to 10% of all New Yorkers.
And we want to make sure
that we don't allow this to lapse.
I've been very disappointed on both sides of the aisle that we've just simply
allowed Pandemic unemployment assistance to completely lapse when we are clearly
not fully recovered from the consequences of the Pandemic.
And we know that allowing unemployment benefits to expire one moment,
allowing unemployment benefits
allowing
or allowing unemployment benefits
to expire does not force people back to work.
And we know this because certain
Republican States have tried this natural experiment and people have not gone back
to work even when cut off in the vast majority of unemployment assistance.
So I will be reintroducing.
I
will be reintroducing legislation to bring back the Pandemic unemployment assistant.
I'm not entirely sure the prospects of it.
And I want to be completely honest with you all on that.
We will work, we will try.
But I simply just could not allow us
to let this happen without at least trying.
And even if the majority of the caucus is
not on board, we are going to do our best to make that effort.
And again, I just simply could not allow
the Pandemic unemployment assistance to expire without at least one of us
trying and introducing legislation to make it happen.
Now, folks, I do want to be clear.
Many Republican lawmakers and business owners have said that the weekly booster
has incentivized people to stay home and not want to go back looking for jobs.
On the other hand, several studies have shown that jobless
benefits have had a minimal impact on hiring,
and that other concerns about the Delta variant about child care,
about early retirement have actually forced individuals or compelled
individuals to not be able to go back to work.
So this is really complex, and this is not a black and white situation.
Now, a lot of politicians do try and present this as a black and white
situation, present people as potentially being lazy for being dependent
on unemployment benefits, but that is more political than it is economic.
The reality is that some of us need help more than others.
Now I want to be clear.
Not everyone needs help and are there some people who are potentially essentially
living off the system and not looking for jobs.
Yes, unfortunately, there's waste in every system.
But but if there's a way to help people
who need help the most, if there's a way to help people who lost
their jobs through no fault of their own and are simply not able to get back
into the workforce for whatever reason they should get the help.
And that is what AOC is trying to shoot for.
In fact, here's the headline of an article
on your screen from Bloomberg Ocasio Cortez prepares bill
to extend unemployment benefits so as you can clearly see, she's trying to do this.
And again, millions of our fellow Americans lost benefits.
And folks, the truth here is
that officials in 26 States previously decided to opt out of the federal
unemployment benefits prior to the official end of the federal
unemployment programs over Labor Day weekend.
And a lot of advocates for the withdrawal basically said that it was encouraging
individuals to not go back into the workforce.
And Alexandria Ocasio Cortez also said
that her measure would extend all federal unemployment insurance until February 1.
Now, if the bill was enacted into law
again, she said that the benefits would be retroactive.
In other words, benefits that did not get
dispersed between the September 6 expiration date and whatever date
the legislation would be enacted would be paid out retroactively.
She did say this, though, and I want to be clear.
I'm not entirely sure the prospects of it.
And I want to be completely honest with you and all that.
We will work it. We will try.
But I simply just could not allow us to let this happen without at least trying.
Lt me know if you agree with the effort by Congresswoman Alexandria Ocasio Cortez
about trying to get these federal unemployment benefits extended.
I can tell you that this Democratic Congresswoman, along
with the Senator from Vermont, Bernie Sanders, have been working hard
to try and pass most stimulus checks and more unemployment benefits.
Whether that will actually happen,
whether we'll get the support of centrist Democrats with this,
we're definitely not going to get any Republicans to word for this.
That is what remains to be seen.
Thank you so much for watching. My name is Dr.
Nathan Shorda with Ignition Time.
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Take care. Bye.