Lankford, Coburn Eye $100 Million Savings
Congressman James Lankford |
According to the Internal Revenue Service, the federal government paid out $18.6 million in unemployment benefits to 2,840 households with incomes exceeding one million dollars a year in 2008.
The legislation being introduced by Lankford and Coburn would save $20 million a year and $100 million over the next five years.
“This unemployment safety net should be provided for those most in need, not giving an extra cushion to those who have failed to prepare for the future,” said Lankford.
Senator Tom Coburn |
“In a federal budget rife with waste, duplication and, sometimes, sheer stupidity, giving unemployment benefits to millionaires may take the cake. Ending this practice will save nearly $100 million and correct a gross injustice against the millions of Americans who are out of work. Congress should pass this bill without delay. If there was ever a common sense spending cut, this is it,” Dr. Coburn said. ###
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