Washington, DC – November 6, 2009 – (RealEstateRama) — Congressman Leonard Boswell voted to pass the Emergency Unemployment Compensation Extension Act to extend unemployment benefits, the homebuyers’ tax credit, and tax relief for military families and businesses in a vote of 403 to 12.
“This legislation will provide immediate assistance to millions of workers, families, and businesses nationwide,” Boswell said. “Iowa’s unemployed will receive an additional 14 weeks of benefits which is something I fought for in the original House bill.”
The extension is fully paid for and will provide immediate, effective stimulus to Iowa’s local economies.
The bill includes an extension of the $8,000 first-time homebuyer tax credit through April 30, 2010 and provides a $6,500 credit to new purchasers who have lived in their current residence for five years or more. It also helps military families struggling to make mortgage payments by making those payments tax-exempt.
The legislation also allows U.S. companies to carry back losses incurred in either 2008 or 2009 against income earned in any of the five prior years
Contact: Jane Slusark, 202-225-3806 Jane.Slusark (at) mail.house (dot) gov