Steven Senne, AP
WASHINGTON — More than 2,300 millionaire households received unemployment benefits in 2009, according to the Congressional Research Service.
“Sending millionaires unemployment checks is a case study in out-of-control spending,” U.S. Senator Tom Coburn, an Oklahoma Republican, told Bloomberg. “Providing welfare to the wealthy undermines the program for those who need it most while burdening future generations with senseless debt.”
Millionaire households make up just 0.02 to 0.03 percent of all tax filers that reported receiving unemployment in 2009, according to the report.
The Joint Committee on Taxation and the Congressional Budget Office estimate that cutting unemployment benefits for millionaires would save the government $20 million in 10 years, according to the Congressional Research Service.
Legislation restricting all unemployment benefits for millionaires has passed both houses of Congress and await the President’s signature, according to Bloomberg. There are currently no salary limits on who can collect unemployment.
- Becker: 'Salt Lake City is well-positioned...
- Small Utah town violated law by asking about...
- Retiring overseas is more than a matter of money
- Mitt Romney tells UVU grads to 'live a large...
- More Americans spending at least half their...
- Study: Tourism significant to rural Utah economy
- 'Avengers' + 'Star Wars' = big year for Disney
- Mitt Romney tells UVU grads to 'live a... 23
- More Americans spending at least half... 17
- Money doesn't necessarily equate to job... 6
- Proposed trade legislation could boost... 6
- Women innovators leading by example 6
- Energy-producing states blast Obama... 4
- High-tech sensors help kids keep eye on... 1
- Los Angeles sues Wells Fargo, alleging... 1