Senate Democrats introduced legislation Tuesday night that once again seeks to extend federal jobless benefits and a homebuyers’ tax credit, a week after a similar measure was defeated by lawmakers as part of a wider tax and benefit package.
Details of the bill were released by Senate Majority Leader Harry Reid (D-Nev.) and Senate Finance Committee Chairman Max Baucus (D-Mt.) Tuesday evening.
It would continue an earlier extension of federal unemployment benefits through the end of November. The benefits expired on June 2. Since then, Democrats estimate that 1.3 million long-term unemployed Americans have seen their benefits expire. The benefit extension would cost roughly $34 billion over the next decade.
The proposed extension of the homebuyers’ credit program would give Americans in the process of buying a new home until Oct. 1 to close the purchase in order to qualify for the tax credit, extending the previous deadline of June 30. Buyers can qualify for a credit of up to $8,000 through the scheme if the house purchase contract was entered into before April 30.
The bill “would restore critical assistance that unemployed workers depend on to help make ends meet,” Reid said in a statement released by his office.
Democrat leaders plan to add the measures to legislation currently before the Senate floor that aims to provide increased federal assistance to small businesses.
Earlier Tuesday, the House defeated an attempt to pass a standalone extension of jobless benefits. The majority of House Republicans voted against the extension, citing concerns over its impact on the federal budget deficit. Lawmakers in that chamber then voted to approve the homebuyers tax credit contract extension.
Reid is so full of it! If they just put unemployment in, it would be passed but they want to add more giveaway money. You keep giving people unemployment – do you really think they are ever going to take a job they don’t really want? The Dems are doing this because they know it won’t pass and they are hoping it will make them look good.
So, they can manage to pass a bill extending the tax credit for home buyers but spit in the face of those who can’t afford to buy anything BECAUSE WE’RE UNEMPLOYED????? And, what’s our President doing? He’s meeting with Hispanics to discuss immigration. This administration isn’t taking care of AMERICAN CITIZENS, and OUR PRESIDENT is more worried about the fate of ILLEGALS?
Does this bill include COBRA????
You would think that they would have the common sense to also extend the date to purchase to 7/30 or 60 days before the extended closing deadline……Its one of the only programs that is really working as it also provides additional income to both Counties and States in the form of mortgage taxes and filing fees…and of course to those who qualify for mortgages under the new and more stringent underwriting guidelines a good portion of their out of pocket cash investment back…
This Michigan unemployed person will lose my home without an extenxion. What has the Senators giving up in salary or benefits to
show their concern over the poor economy?
1.3 MILLION AMERICAN PEOPLE LONG TERN UNEMPLOYED .
A great man once said to a ARMY he defeated .” MALICE FOR NONE CHARITY FOR ALL “. Just because these brave soldiers lost the war this great man showed hart for the defeated . We unemployed at no fault of our own are defeated . Yes we need help to rebuild . The Republican party is spiting in the face of this great man . He was the first REPUBLICAN PRESIDENT .His name was ABRAHAM LINCOLN… No man in the republican party today has any compassion for 1.3 MILLION AMERICANS .AMERICANS who worked honest jobs . Employers found ways to rid the older , some people with needs . They called it layoff . Now we hunt for jobs THAT DO NOT EXIST . I will never consider myself a part of the Republican party ever again . I hope 1.3 MILLION AMERICANS NOW UNEMPLOYED vote against the republicans .They have no compassion and only care about control instead of helping hurting AMERICANS . YES WE NEED HELP .