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.

Repeals specified provisions of the Omnibus Budget Reconciliation Act of 1981 which: eliminated the national trigger; excluded claims for extended or additional compensation in determining the rate of insured unemployment; and changed the State trigger for extended compensation under the Federal-State extended unemployment compensation program. Provides that the Federal-State Extended Compensation Act of 1970 shall be applied as if such provisions of the Omnibus Budget Reconciliation Act of 1981 had not been enacted. (Thus this Act restores the national trigger and the formula for the State trigger and includes claims for extended or additional compensation in the determination of the insured unemployment rate.)

Amends the Federal-State Extended Unemployment Compensation Act of 1970 to increase the amount of the Federal payments to States from 50 to 75 percent of the sharable extended and regular compensation paid to individuals under State law.