McHenry Backs Homebuyer Tax Credit & Jobless Benefits Extensions

Press Release

Today, Congressman Patrick McHenry (NC-10) voted for final passage of H.R. 3548, which extends both the Homebuyer Tax Credit and Unemployment Insurance benefits.

Under the current program, which was set to expire on November 30, 2009, homebuyers can claim an $8,000 tax credit when purchasing their first home. H.R. 3548 extends the tax credit until April 30, 2010 and expands eligibility to those who have owned their primary residence at least 5 years.

"This tax credit is working. The housing market is beginning to turn around. Our economy cannot start growing again until people starting buying houses and home values increase," said Congressman McHenry.

The legislation also provides an additional 14 weeks of Unemployment Insurance benefits for jobless workers in all states. In states like North Carolina with unemployment rates above 8.5%, benefits will be extended an additional 6 weeks for a total of 20 weeks.

"As the Obama Administration has acknowledged, the stimulus plan has failed. As a result, unemployment continues to rise and North Carolina is being hit particularly hard. We have a responsibility to help displaced workers get back on their feet," stated Congressman McHenry.

Source