Economic Security Act of 2002

Hozzl · 2023-01-16T04:02:59Z

Explore the details of Senate Bill 2892 Economic Security Act of 2002 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Labor and Employment. Stay informed on legislative developments.

1/16/2023, 4:02 AM

Congressional Summary of S 2892

Economic Security Act 2002 - Amends the Temporary Extended Unemployment Compensation Act of 2002 (Public Law 107-147) (TEUCA) to: (1) establish a program of temporary enhanced unemployment compensation benefits; (2) require States to modify their compensation laws to include recently earned wages in base periods, allow compensation for those seeking part-time work, and increase benefits levels by the greater of 15 percent or $25 a week; (3) reimburse States for administrative expenses; (4) extend the TEUCA program; (5) entitle individuals to 26 weeks of TEUCA compensation; (6) apply a revised rate of insured unemployment; (7) set an additional TEUCA benefit period trigger; (8) provide an additional seven weeks of benefits for workers in high unemployment States; (9) repeal a requirement for 20 weeks of work; (10) provide that individual is not ineligible for emergency compensation because of a subsequent entitlement to regular benefits for which the individual does not file; and (11) provide an additional extension of TEUCA assistance.

Amends the Internal Revenue Code to provide for no reduction in unemployment compensation as a result of pension rollovers.

Amends the Federal-State Extended Unemployment Compensation Act of 1970 (FSEUCA) to: (1) repeal certain State law extended benefit requirements; (2) revise the definition of rate of insured unemployment; (3) entitle individuals to 13 weeks of unemployment compensation; (4) lower the extended benefit on-indicator; and (5) require a study and report on unemployment insurance benefits provided to individuals who have received assistance under the temporary assistance for needy families program.

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Current Status of Bill S 2892

Bill S 2892 is currently in the status of Bill Introduced since August 1, 2002. Bill S 2892 was introduced during Congress 107 and was introduced to the Senate on August 1, 2002. Bill S 2892's most recent activity was Read twice and referred to the Committee on Finance. as of August 1, 2002

Bipartisan Support of Bill S 2892

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Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill S 2892

Primary Policy Focus

Labor and Employment

Potential Impact Areas

Administrative procedureAid to dependent childrenAnnuitiesAppropriationsCash welfare block grantsCollection of accountsComputers and governmentCongressCongressional reporting requirementsEconomics and Public FinanceFamiliesGovernment Operations and PoliticsGovernment paperworkGovernment trust fundsGovernmental investigationsIncome taxLawLegislationOverhead costsPart-time employmentPersonal income taxScience, Technology, CommunicationsSocial WelfareState lawsTax exclusionTaxationTechnological innovationsUnemploymentUnemployment insuranceWagesWelfare eligibility