Senate approves Jobless Benefits for up to 99 Weeks

boosted · 11-05-2009, 11:29 AM

Congress Poised to Extend Jobless Benefits, Homebuyer Tax Credit

Congress appears ready to approve legislation that would extend aid to people who are out of work and to homebuyers, in an effort to spur economic recovery and help those struggling amid the recession.
Unemployed Coloradans at job fair; Getty file photo

The $24 billion measure, which passed 98-0 late Wednesday in the Senate, is likely to be approved by the House Thursday and sent to President Barack Obama's desk for a signature.

The bill would extend unemployment benefits by 14 weeks for any American scheduled to run out of benefits this year. For those in states with unemployment rates above 8.5 percent, it would grant an additional six weeks on top of that. The extension is the fourth since last June, and could give some people up to 99 weeks of unemployment benefits, above the previous record of 65 weeks set in the 1970s, according to the Associated Press.

In figures released Thursday, the Labor Department said that first-time claims for jobless benefits fell by 20,000 to a seasonally adjusted 512,000.

"We know that when an economy recovers, the unemployment rate is one of the last numbers to rebound," said Senate Majority Leader Harry Reid, D-Nev., according to the Washington Post. "So even as our economy begins to turn around, jobs are turning around slower, and it is our responsibility to ensure the out-of-work are not left out in the cold."

The measure would also extend a popular $8,000 tax credit for first-time homebuyers until April 30. The credit, which was originally enacted in February as part of the $787 billion stimulus legislation, had been scheduled to run out at the end of this month.

The real estate industry has been pushing to extend and expand the housing tax credit. About 1.4 million first-time homebuyers have qualified for the credit through August, according to the AP.

The new legislation would also extend a $6,500 credit to homebuyers who have lived in their current home at least five years and want to buy a new one.

"This is probably the last extension," said Sen. Johnny Isakson, R-Ga., a former real estate executive who has supported the credits.

The bill would also allow people whose businesses experienced losses in 2008 and 2009 to file for tax refunds on profits they had made in the past five years.
wtf

Annihilia · 11-05-2009, 11:52 AM

Aren't you glad you don't live here anymore

P-SPEC · 11-05-2009, 11:58 AM

I'm about to sell my business, file for unemployment and piss away 2 years of my life sleeping til noon, playing video games and applying for top level executive positions that I'll never get just so I can say i'm "trying" to find a job and keep collecting

RR · 11-05-2009, 01:38 PM

I make close to $500 a week for doing NOTHING.

I jus tell the lady what jobs and positions I applied for

I hope I can stay on unemployment when Im in school getting my GI Bill

P-SPEC · 11-05-2009, 03:23 PM

This is awesome. I can't wait to file for unemployment now! I love America!!!

RR · 11-05-2009, 05:58 PM

GO OBAMA!

DEM CHECKS SHAW IS GEWD!

11-05-2009, 11:29 AM	#1
boosted Moderator Join Date: Jul 2002 Location: Bangkok, Thailand Posts: 13,713	Senate approves Jobless Benefits for up to 99 Weeks Congress Poised to Extend Jobless Benefits, Homebuyer Tax Credit Congress appears ready to approve legislation that would extend aid to people who are out of work and to homebuyers, in an effort to spur economic recovery and help those struggling amid the recession. Unemployed Coloradans at job fair; Getty file photo The $24 billion measure, which passed 98-0 late Wednesday in the Senate, is likely to be approved by the House Thursday and sent to President Barack Obama's desk for a signature. The bill would extend unemployment benefits by 14 weeks for any American scheduled to run out of benefits this year. For those in states with unemployment rates above 8.5 percent, it would grant an additional six weeks on top of that. The extension is the fourth since last June, and could give some people up to 99 weeks of unemployment benefits, above the previous record of 65 weeks set in the 1970s, according to the Associated Press. In figures released Thursday, the Labor Department said that first-time claims for jobless benefits fell by 20,000 to a seasonally adjusted 512,000. "We know that when an economy recovers, the unemployment rate is one of the last numbers to rebound," said Senate Majority Leader Harry Reid, D-Nev., according to the Washington Post. "So even as our economy begins to turn around, jobs are turning around slower, and it is our responsibility to ensure the out-of-work are not left out in the cold." The measure would also extend a popular $8,000 tax credit for first-time homebuyers until April 30. The credit, which was originally enacted in February as part of the $787 billion stimulus legislation, had been scheduled to run out at the end of this month. The real estate industry has been pushing to extend and expand the housing tax credit. About 1.4 million first-time homebuyers have qualified for the credit through August, according to the AP. The new legislation would also extend a $6,500 credit to homebuyers who have lived in their current home at least five years and want to buy a new one. "This is probably the last extension," said Sen. Johnny Isakson, R-Ga., a former real estate executive who has supported the credits. The bill would also allow people whose businesses experienced losses in 2008 and 2009 to file for tax refunds on profits they had made in the past five years. wtf __________________

11-05-2009, 11:52 AM	#2
Annihilia The Redeemer Join Date: Mar 2002 Location: South Brrrrrlington, VT Posts: 10,862	Aren't you glad you don't live here anymore __________________

11-05-2009, 11:58 AM	#3
P-SPEC Moderator Join Date: Jul 2002 Location: bewbs Posts: 25,199	I'm about to sell my business, file for unemployment and piss away 2 years of my life sleeping til noon, playing video games and applying for top level executive positions that I'll never get just so I can say i'm "trying" to find a job and keep collecting __________________ VictorTylinski's Gamercard

11-05-2009, 01:38 PM	#4
RR Molon Labe Join Date: Jan 2004 Location: South Carolina Posts: 21,216 Images: 74	I make close to $500 a week for doing NOTHING. I jus tell the lady what jobs and positions I applied for I hope I can stay on unemployment when Im in school getting my GI Bill __________________

11-05-2009, 03:23 PM	#5
P-SPEC Moderator Join Date: Jul 2002 Location: bewbs Posts: 25,199	This is awesome. I can't wait to file for unemployment now! I love America!!! __________________ VictorTylinski's Gamercard

11-05-2009, 05:58 PM	#6
RR Molon Labe Join Date: Jan 2004 Location: South Carolina Posts: 21,216 Images: 74	GO OBAMA! DEM CHECKS SHAW IS GEWD! __________________

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