A bill to repeal certain changes made by the Omnibus Budget Reconciliation Act of 1981 to the extended unemployment compensation program, and for other purposes.

Amends the Omnibus Budget Reconciliation Act of 1981 to repeal specified changes to the extended unemployment compensation program. Repeals provisions of such Act relating to: (1) elimination of the national trigger; (2) exclusion of claims for extended or additional compensation in the determination of the insured unemployment rate; and (3) changes in the State trigger. Provides that the Federal-State Extended Unemployment Compensation Act of 1970 shall be applied as if the above provisions of the Omnibus Budget Reconciliation Act had not been enacted.

Amends the Federal-State Extended Unemployment Compensation Act of 1970 to increase (from 50 to 75 percent) the percentage of sharable extended compensation and sharable regular compensation paid to individuals under State law which is reimbursed to States by the Federal Government.