U.S. House Approves Legislation That Extends Jobless Benefits, Home-Buyer Credit

Press Release

U.S. Congressman Phil Roe, M.D. (TN-1) voted in support of the Emergency Unemployment Compensation Extension Act, which passed the House 403-12. This legislation extends unemployment insurance by up to 14 weeks and up to six weeks in the states experiencing the most difficult climate in their job markets, in which Tennessee qualifies. This bill will now be sent to the President to sign into law.

"I am proud to support this bipartisan legislation, which extends unemployment insurance to those who lost their job and are in need of assistance," said Roe. "This bill not only helps families in need, but it also seeks to strengthen our economy."

In addition to unemployment compensation extension, the bill would extend an $8,000, first-time home buyers' tax credit on all house contracts entered into before April 30, 2010, and closed by June 30 the same year. It would create a new, $6,500 credit for existing property owners who sell their home and buy another during the same period of time. Both credits would have income restrictions limiting their availability. Businesses would also be able to write off losses they booked in 2008 or expect to book in 2009 against federal income taxes paid on profits earned over the previous five years.

On September 22, 2009, Roe voted to pass the House version of this legislation, which passed by a vote of 331 Ayes, 83 Nays, and 18 Present. On Nov 4, 2009, this bill passed in the Senate by a vote of 98 Ayes, 0 Nays, and 2 Present.

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