A bipartisan group in Congress, including Senators Joni Ernst (R-Iowa), Jon Tester (D-Montana), Mike Braun (R-Indiana), and Representative John Curtis (R-Utah), has introduced the “Ending Unemployment Payments to Jobless Millionaires Act of 2023.”
The bill aims to prevent individuals with an annual adjusted gross income of $1 million or more from receiving federal unemployment insurance benefits. This initiative responds to IRS data revealing that millionaires collected over $200 million in unemployment compensation last year.
The bill proposes changes to unemployment benefit regulations, which currently assess eligibility based on active income without considering passive income sources. It requires applicants to certify their income level, with audits possible by the Department of Labor or the Government Accountability Office.