S 310

112th CONGRESS
1st Session

S. 310

To end unemployment payments to jobless millionaires.

IN THE SENATE OF THE UNITED STATES

February 8, 2011

Mr. COBURN (for himself, Mr. UDALL of Colorado, and Mr. TESTER) introduced the following bill; which was read twice and referred to the Committee on Finance


A BILL

To end unemployment payments to jobless millionaires.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the `Ending Unemployment Payments to Jobless Millionaires Act of 2011'.

SEC. 2. ENDING UNEMPLOYMENT PAYMENTS TO JOBLESS MILLIONAIRES.

    (a) Prohibition- Notwithstanding any other provision of law, no Federal funds may be used to make payments of unemployment compensation (including such compensation under the Federal-State Extended Compensation Act of 1970 and the emergency unemployment compensation program under title IV of the Supplemental Appropriations Act, 2008) in a year to an individual whose resources in the preceding year was equal to or greater than $1,000,000. For purposes of the preceding sentence, with respect to a year, an individual's resources shall be determined in the same manner as a subsidy eligible individual's resources are determined for the year under section 1860D-14(a)(3)(E) of the Social Security Act (42 U.S.C. 1395w-114(a)(3)(E)).

    (b) Effective Date- The prohibition under subsection (a) shall apply to weeks of unemployment beginning on or after the date of the enactment of this Act.

END