On Friday Congress passed the massive American Recovery and Reinvestment Act of 2009. President Obama will sign this bill into law on Tuesday February 17th in Colorado. The $789 billion package is said to create and/or save more than 3 million jobs. According to the Society for Human Resource Management (SHRM) the bill will have a considerable impact on its members.
A few areas that will affect Human Resources:
- E-Verify – All provisions for E-Verify were removed from the final version of the Bill.
- Unemployment and Health Care Coverage – A nine month extension of a program that offers an additional seven weeks of unemployment benefits.
- Health Care Technology – Almost $20 billion will be spent to improve the nations health care information technology.
- Trade Protection for Jobs – A provision was added that would extend Trade Adjustment Assistance benefits for at least 160,000 more workers who lose their jobs because of increased imports or because workers move those jobs offshore.
- Executive Compensation – A controversial provision limits compensation packages for businesses receiving TARP funds can offer their executive teams.
There are sure to be more areas of the 1,100 page bill that will impact Human Resources but these will have the most immediate. Background screening companies were looking forward to the E-Verify provision as it allows us to enhance our automated I-9 Services. The program is still available but voluntary for much of the country. Stay tuned for more information in the coming weeks.
I have been unemployed since May of 2008 as I was laid off my my employer who is a fire protection contractor that lost quite a bit of business when Kimball Hill Homes went out due to the economy. My husband is self employed and is tied to the housing industry as a architectural photographer and business has been very slow. We have been struggling to pay our bills and the small check I recieve from unemployment which I am thankful for barely makes a dent in our bills. Imagine my relief when I heard 65% of Cobra would be picked up by the goverment. Imagine my horror, disbelief and total disapointment when I read in the paper, we would not qualify for assistance as the benefit is only for the unemployed from November 2008 and on. What the hell is that! What about the rest of us? I have suffered strugling to pay full price for COBRA offered by my former employer longer than these people who have lost their jobs as recently as November. I have checked out estimates for private insurance for myself and my husband and the medical insurance will cost us even more then what we are currently paying for COBRA with less benefits. I would love to talk to the media as I have plently more to say about this mess!