S. 386: Unemployment Insurance Solvency Act of 2011

112th Congress · introduced 2011-02-17 · Labor and Employment · Latest: Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S885-887)

federal

Follow this bill, step by step

Where it came from: introduced 2011-02-17 · official record
Who proposed it: Sen. Durbin, Richard J. [D-IL] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S885-887) Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Unemployment Insurance Solvency Act of 2011

Plain summary

Unemployment Insurance Solvency Act of 2011 - Amends title XII of the Social Security Act (Advances to State Unemployment Funds) to: (1) extend through December 31, 2012, the waiver granted to states for payment of interest on advances made from the federal unemployment account in the Unemployment Trust Fund; and (2) authorize the governor of any state that has outstanding repayable advances from the federal unemployment account to apply to the Secretary of Labor to enter into a voluntary principal abatement agreement. Amends the Internal Revenue Code to: (1) extend the 6.2% employment tax rate for employers through 2013 and impose a reduced 5.78% rate in 2014, (2) modify the rate applicable to the limit on the credit allowed to employers for the federal unemployment tax, and (3) increase the taxable wage base for the federal unemployment tax to $15,000 in 2014. Amends title IX of the Social Security Act (Miscellaneous Provisions Relating to Employment Security) to increase the rate of interest payable on unemployment compensation reserves and lower the rate of the employment tax for employers in states whose unemployment compensation fund remains solvent.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Unemployment Insurance Solvency Act of 2011

Source: Congressional Research Service summary (Introduced in Senate)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Durbin, Richard J. [D-IL] · 3 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Jack Reed (D-RI), Sheldon Whitehouse (D-RI)

Sponsor's campaign money: Sen. Durbin, Richard J. [D-IL] reported raising $84,084 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Authorization: A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112s386.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/s>

Record fed-us-cong112-s386 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112