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Sunday, October 11, 2009

Shaheen has a good idea, but wrong solution

Foster's weighs in on Senator Jeanne Shaheen's effort to extend unemployment benefits for workers in state with lower unemployment rates than their neighbors.
Shaheen's proposal calls for an extension of the federal unemployment surtax through June 30, 2011, otherwise scheduled to expire at the end of this year.

Continuing to cull more taxes out of anyone, especially businesses, is a bad idea. This is especially true given recent predictions the unemployment rate will hit 10.2 percent by February.

If anything, Congress should let the surtax expire, giving businesses a tax break that hopefully will ease unemployment.

Those who support extending unemployment benefits should look elsewhere, perhaps to TARP funds which have not yet been put to use.

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