Senator Richard Durbin (IL), with Senators Jack Reed (RI) and Sherrod Brown (OH), introduced the Unemployment Insurance Solvency Act of 2011 (S.386) on February 17, 2011, which offers immediate tax relief to cash-strapped states and employers, preserves UI benefit levels, and creates new opportunities for states to restore their UI programs to solvency (while also rewarding states that have managed their UI trust funds effectively).

In a statement, National Employment Law Project (NELP) Executive Director Christine Owens said, "Jobless workers, and we hope employers too, should be grateful for the leadership of Senator Richard Durbin and his colleagues Sherrod Brown and Jack Reed on the issue of unemployment insurance solvency. Following the President's FY 2012 budget, the introduction of the Unemployment Insurance Solvency Act sets the stage for a serious conversation on how to make sure that the safety net that tens of millions of Americans have counted on during the tough times of the last few years will be financially secure into the future."

The new bill is similar to the plan outlined by President Obama in his remarks last week, but adds further protections for benefits and additional opportunities and incentives for states to return to solvency in the long run.

More Information on Unemployment Insurance Insolvency