Congress Votes to Aid Jobless, Homebuyers

By: Jim Abrams AP Email
By: Jim Abrams AP Email

WASHINGTON (AP) - 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.

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