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| Obama mulls bigger compensation packages for jobless: report | |
| Press Trust of India / New York January 04, 2009, 16:14 IST | |
US President-elect Barack Obama is considering major expansion of government-assisted health care insurance and unemployment compensation packages for helping the jobless, a media report says.
"President-elect Barack Obama and Congressional Democrats are considering major expansions of government-assisted health care insurance and unemployment compensation as they begin intensive work this week on a two-year economic recovery package," the New York Times reported in its Sunday edition.
As part of the proposal, unemployment compensation would be extended to part-time workers.
"Other policy changes would subsidise employers' expenses for temporarily continuing health insurance coverage to laid-off and retired workers and their dependents... And allow workers who lose jobs that did not come with insurance benefits to be eligible, for the first time, to apply for Medicaid coverage," the newspaper said.
The proposals would be combined with one-time measures to jump-start a weak economy, like spending for roads and other job-creating public works projects.
Quoting Obama advisers, the newspaper said, "The package will carry a total cost of at least $775 billion."
In his weekly Saturday address on radio, Obama said, "...If we don't act swiftly and boldly, we could see a much deeper economic downturn that could lead to double digit unemployment and the American dream slipping further and further out of reach."
Obama is expected to propose a one-time tax rebate of $500 for eligible individuals and $1,000 for couples.
"Those who earn too little to pay federal income taxes would receive the credit in the form of a check, intended to offset the payroll taxes they pay for Social Security and Medicare," the report added.
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