Understanding Nonprofit Tax Cuts for Transportation Benefits

When unemployment insurance benefits were first offered in the 1930s, the question of whether an employee deserved to collect was fairly straightforward. The answer simply revolved around whether or not an employee had lost their job through any fault of their own, whether they were available for work, and whether they were actively looking for work.

Three questions—questions that could be solved with a simple ‘yes’ or ‘no’—determined who could, and who could not, collect unemployment benefits.

In recent years though, the question of which employees deserve to be able to collect has become a much more complicated topic as budgets have been restricted and more and more jobless workers apply for unemployment benefits.

But now, another complicated topic of discussion has arisen: Should millionaires that meet all other standards be allowed to collect unemployment insurance benefits?

First debated on the Senate floor after a Congressional Research Service report revealed that almost 2,400 people with annual household incomes topping $1 million, and another 954,000 with incomes topping $100,000, received unemployment insurance benefits in 2009 the question has received shocked attention.

While these groups only make up 0.08 percent of the 11.3 million U.S. tax filers who reported unemployment insurance income in 2009, the report was released after about 1.1 million people exhausted their jobless benefits during the second quarter of 2012. The timing of the release served to further drive home the importance of finding a long term solution for state unemployment insurance trust funds, many of which have run low, as another 4.6 million jobless workers filed for benefits.

As the nationwide jobless rate continues to remain around 8 percent, and more jobless benefits run out, the question of who collects unemployment benefits must be definitely answered. But, what other questions will the answer reveal?

Read the Bloomberg News article here.

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06/13/18 1:35 AM

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