House passes unemployment benefits extension

By Annalyn Censky, staff reporter


NEW YORK (CNNMoney.com) -- After a failed attempt earlier this week, the House voted to extend the deadline to file for federal jobless benefits Thursday. But the bill will be stuck in limbo as Congress takes a weeklong summer break.

The bill would extend the deadline to file for extended unemployment benefits through November, and would retroactively pay out claims to those who saw their benefits expire in May.

The legislation, which garnered a 270-153 vote, now moves on to the Senate.

That chamber, however, closed up shop Wednesday evening for the summer recess after failing to pass its own version of the bill, which would raise the deficit by $33.3 billion.

As a result, more than 2.1 million people are expected to have lost their unemployment benefits by the time legislators reconvene on July 12.

House Democrats have struggled to get support from Republicans, who oppose the extension because it adds to the nation's $1.4 trillion deficit.

Basic state-funded unemployment benefits offer 26 weeks of coverage. But after the downturn, Congress approved an extension of those benefits for up to an additional 73 weeks using federal money.

The federal benefits are divided into tiers, and the jobless must re-apply each time they move into a new tier.

Each time Congress fails to pass an extension, the jobless cannot apply to move into the next tier once their benefits run out. The recently unemployed who are still in their first 26 weeks of state-funded benefits are also unable to apply for extended federal benefits.

Senate Majority Leader Harry Reid, D-Nev., said Wednesday the Senate will vote again on its measure once a replacement is named for the late Sen. Robert Byrd, D-W. Va., who died on Monday.  To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 17,042.90 -28.32 -0.17%
Nasdaq 4,493.39 -12.46 -0.28%
S&P 500 1,972.29 -5.51 -0.28%
Treasuries 2.51 0.02 0.68%
Data as of 4:20pm ET
Company Price Change % Change
Ford Motor Co 14.79 -0.32 -2.12%
Bank of America Corp... 17.05 0.04 0.24%
eBay Inc 56.63 3.97 7.54%
Apple Inc 100.75 0.64 0.64%
General Electric Co 25.62 0.20 0.79%
Data as of 4:00pm ET

Sections

CNNMoney's Italian-American investing correspondents did a taste test of Olive Garden's food. They agree with hedge fund Starboard: It's not very appetizing. More

Even limited air operations could cost up to $4 billion a year, says a think tank, while large ground forces could cost $1.8 billion a month. More

Microsoft showed off the new Windows 10 at an event for business customers Tuesday. More

On Wednesday, 17% of First Green Bank's 66 employees will get a raise under the company's new "living wage" program. The guarantee: At least about $30,000 a year. More

This mom of four only makes $29,000 a year and is losing $400 a month because the state is garnishing her paycheck over a debt. Now she is about to be evicted from her apartment. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.