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WASHINGTON — More than three million people stand to lose unemployment insurance benefits in the near future because of an impasse in Congress over how to extend the aid and how to offset the cost.
A deal to extend the aid is likely, but only as part of a wider agreement on the expiring Bush-era tax cuts, and it is unclear how long that will take.
Geithner reconstructed in detail the New York Fed's deliberations over and decision to extend the aid to AIG, and its discussions with AIG executives on terms for the loan.
Sen. Ben Sasse (R-Neb). has proposed legislation to extend the aid for 18 months.
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Last August, it extended the aid at a reduced level, adding $15 billion over six months.
Facing the prospect that the Supreme Court this year could strip away insurance subsidies provided through the law in most states, several GOP lawmakers have proposed extending the aid, perhaps even until a new president takes office.
Congressional Republicans in recent days have blocked efforts by Democrats to extend the jobless aid, saying they would insist on offsetting the $56 billion cost with spending cuts elsewhere.
With those guarantees running out next year, Ottawa has yet to announce whether it will extend the financial aid.
The House of Representatives today voted 385 to 25 to pass a compromise bill on higher education that tightens the requirements for financial aid while extending the help to part-time, nontraditional students.
This complexity provides a good prism through which to assess the potential of the aid effectiveness agenda to support health development and, conversely, possibilities to extend the impact of aid-effectiveness approaches to sector level.
The ECB has also extended the emergency aid to Greece's banks by €500m.
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