Senator Ernst's Amendment to Prevent Millionaires from Receiving Unemployment Benefits
Forbes Breaking NewsJuly 7, 20253 min2,282 views
8 connectionsΒ·9 entities in this videoβSenator Ernst's Amendment
- π‘ Senator Joni Ernst proposed an amendment to disqualify individuals earning $1 million or more from receiving unemployment benefits.
- π― The amendment aims to stop "out of work millionaires" from collecting government checks while simultaneously earning significant income from other ventures.
Unemployment Benefits Data
- π In the first two years of the Biden administration, thousands of millionaires received over $271 million in unemployment assistance.
- π° In 2022 alone, nearly 6,000 millionaires were paid approximately $58 million in jobless benefits, averaging about $10,000 each.
Rationale and Opposition
- π° Ernst argued that able-bodied millionaires should not receive "handouts" funded by "overtaxed and overworked Americans."
- π Her amendment seeks to save an estimated $100 million and reduce the national deficit by getting millionaires back to work.
- β οΈ Senator Morgan opposed the amendment, viewing it as a "backdoor way to undermine unemployment insurance" and a step towards Republicans cutting social safety net programs.
Vote Outcome
- β The amendment was agreed to by a voice vote, with the "ayes" appearing to have it.
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Whatβs Discussed
Unemployment BenefitsMillionairesSenator Joni ErnstAmendmentBiden AdministrationJobless BenefitsDeficit ReductionSocial Insurance ProgramCongressional Budget Act
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