November 5, 2009

Congress is sending the president legislation to expand a popular homebuyers tax credit and extend unemployment benefits.

With an overwhelming House vote, Congress has completed work on
the $24 billion economic package that seeks both to propel a
sluggish economic recovery and help out the millions who have lost
jobs and have been unable to rejoin the workforce.

Under the measure, the $8,000 tax credit for first-time
homebuyers would be extended for seven months and expanded with a $6,500 credit for some prospective homebuyers who already own
homes.

The nearly 2 million people who have lost or are in danger of
exhausting unemployment benefits before the end of the year would
receive up to 20 weeks in additional benefits.