Congress Passes Unemployment Extension Act On November 5, 2009November 6th, 2009 - 7:59 pm ICT by GD
By Madhuri Dey
Nov. 6, (THAINDIAN NEWS) On November 5, the Congress managed to pass a bill that will extend unemployment benefits, tax credits for home buyers and will also provide relief from tax for military and business families. The bill, called the Emergency Unemployment Compensation Extension Act will extend the benefits of those workers in Michigan whose benefits are due to run out by the end of this year. The bill will add 14 weeks on unemployment benefits to those who are without a job. This will be applicable to all of the 50 states. An additional six weeks of benefits will be provided to those living in the 27 states that have high rates of unemployment.
The bill was moved in the Congress by representative Tom Perreillo. He introduced the measure as a lifeline for many families in the country to stay afloat in the recession. The new measure is expected to bring great relief to all the states that are hard hit by the recession. Many families have lost their jobs as companies kept closing down. The bill is certainly going to help, as, according to a survey made by the National Employment Law Project, about one million jobless people would have been without benefits by the end of this year if the bill hadn’t been passed.
Representatives said that the bill is crucial to help the small businesses and industries to get back on their feet. It is a most necessary measure that had to be taken to provide a much needed stimulus to the country’s failing economy. The bill was approved unanimously at 98-0. The bill also extends credit for first time home buyers and also tax credit to those who intend to sell their current residence to buy another.
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