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Udall Seeks to End Unemployment Payments for Millionaires as Part of Debt Deal

As negotiations continue over the debt limit in Washington, Colorado senator Mark Udall is asking lawmakers to put an end to unemployment payments for millionaires.

This week in a letter co-authored with fellow Democratic senator Jon Tester of Montana and Republican senator Tom Coburn of Oklahoma, Udall asks President Obama and congressional leaders to stop giving unemployment benefits to millionaires and billionaires.   

The letter states that “unemployment benefits are intended as a social safety net for people who lose jobs, not to provide an extra cushion for the financially well off.”

Udall says the move would save taxpayers more than $100 million over the next five years.  According to the U.S. Internal Revenue Service 2,840 households reporting income of at least $1 million in 2008 received nearly $19 million in unemployment benefits. This included 17 households with incomes exceeding $10 million.

The three senators introduced an amendment to end the payments earlier this year.  The Senate approved it unanimously in April -- but the bill it was attached to at the time was not adopted.

As the host of KUNC’s new program and podcast In the NoCo, I work closely with our producers and reporters to bring context and diverse perspectives to the important issues of the day. Northern Colorado is such a diverse and growing region, brimming with history, culture, music, education, civic engagement, and amazing outdoor recreation. I love finding the stories and voices that reflect what makes NoCo such an extraordinary place to live.
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