The days of mega-millionaires claiming federally funded unemployment benefits are about to end.
Fifteen years after the late Sen. Tom Coburn first launched his crusade to clamp down on what he called an “anti-benefit” for millionaires, Congress finally delivered in President Trump’s Big Beautiful Bill budget package.
In the early morning hours of July 1, as senators were debating and voting on dozens of amendments, Sen. Joni Ernst managed to get her colleagues to accept her amendment that forbids people who show at least a million dollars of income in any one year from collecting unemployment insurance benefits.
“For far too long, overtaxed and overworked small business owners have been forced to foot the bill for the lifestyles of the idle rich. But no longer. The freebies for freeloading fat cats are over,” Ms. Ernst, Iowa Republican, told The Washington Times.
As unlikely as it sounds, tax records show that