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Monday, May 16, 2011

EDITORIAL : THE NEW YORK TIMES, USA




Going Back on the Deal

Last year, Republicans refused to renew unemployment benefits unless the high-end Bush-era tax cuts were preserved. After the White House agreed to keep the tax cuts through 2012, they agreed to extend federal jobless benefits through 2011. Now, they want to renege.
The House Ways and Means Committee, on a strict Republican vote, recently passed a bill to let states use federal jobless money for other purposes, including tax cuts for business. This is a very bad idea at a time when the national jobless rate is 9 percent, and higher than that in 22 states. The $31 billion in yet to be paid federal benefits is desperately needed.
State unemployment benefits end after six months. Federal benefits, which average $293 a week, then kick in. In better times six months may be a reasonable period to expect a laid-off worker to find another job. But not these days. Right now, more than four million families depend on extended federal benefits to get by.
The bill would let states use the federal jobless money to pay debt that would otherwise have to be paid by raising business taxes. In particular, the bill could get businesses off the hook for increases that will be needed to repay $41 billion in federal loans that states took to cover shortfalls in their unemployment funds.
The tax increases would be largely automatic, because if a state does not pay back its loans within two years — which states are hard pressed to do — the federal government is required to recoup the money by raising federal unemployment taxes on employers in the state.
That leads to two important points. No one thinks it is a good idea to hit businesses with big tax increases when the economy is fragile. Nor is it necessary to stiff jobless workers to give businesses tax relief. Instead, Congress could delay and reduce the taxes until the economy is stronger, by forgiving loans for states that rebuild their funds — a fix detailed in a Senate bill by Richard Durbin, Democrat of Illinois.
Republicans, however, aren’t looking to restore the funds to long-term solvency; they want to cut taxes no matter what the cost. And their business constituents — who have resisted paying unemployment taxes in good times as well as bad — don’t want to pay more taxes into the system, even after the economy has recovered.
That’s where the House bill comes in. Its main proponent, Representative Dave Camp, the Ways and Means chairman, says that under the bill, states can keep paying full federal benefits. But he also says they need the “flexibility” to prevent “job-killing tax hikes.”
Arkansas, Florida, Michigan and Missouri have passed their own laws this year that will cut business taxes by reducing the standard 26 weeks of state benefits, starting in 2012. Other states are also weighing cutbacks.
The Ways and Means bill has little chance of passing the Senate with the Democrats in charge. But it provides dangerous fuel to antitax efforts in the states. And it presages more fights to come in Washington.
Joblessness is not expected to fall much this year, so come 2012, federal benefits will need to be renewed. Republicans are sure to resist, even though the arguments for renewal are sound: the benefits bolster the economy by supporting consumption and they are a humane response to economic calamity. There are better ways to help the states and bolster business during tough times. Reducing unemployment benefits is the wrong choice.


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