To provide for a limitation on availability of funds for Department of Labor, Federal Unemployment Benefits and Allowances for fiscal year 2024.
Impact
If passed, HB1929 would represent a significant reduction in funding for unemployment benefits, which could affect thousands of individuals relying on federal assistance during times of job loss. The limitation imposed by this bill might curtail the Department of Labor's capability to respond adequately to economic downturns or sudden spikes in unemployment rates, potentially leading to increased hardships for the unemployed population. State laws related to unemployment compensation may also face challenges in aligning with the constrained federal support.
Summary
House Bill 1929 addresses budget constraints for the Federal Unemployment Benefits and Allowances administered by the Department of Labor for the fiscal year 2024. The bill specifically limits the total amounts appropriated for these programs to a maximum of $540 million. This legislative action is aimed at managing federal expenditures amidst concerns about budgetary discipline and fiscal responsibility in light of ongoing economic challenges.
Contention
There are likely to be prominent discussions and debates surrounding the implications of this funding limitation. Critics of the bill may express concern that restricting unemployment benefits could disproportionately impact lower-income families and those in vulnerable economic positions. Furthermore, this bill may incite contention over the federal government's role in providing safety nets for citizens and whether such limitations align with ongoing economic revitalization efforts.
To provide for a limitation on availability of funds for Department of Labor, State Unemployment Insurance and Employment Service Operations for fiscal year 2024.
To provide for a limitation on availability of funds for Department of Labor, Office of Workers' Compensation Benefits, Special Benefits for fiscal year 2024.
To provide for a limitation on availability of funds for Department of Labor, State Unemployment Insurance and Employment Service Operations, Program Administration for fiscal year 2024.
To provide for a limitation on availability of funds for Department of Labor, Pension Benefit Guaranty Corporation, Salaries and Expenses for fiscal year 2024.