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IPFS News Link • Legislative Mischief

Congress set to clear aid to jobless, homebuyers

• AP
The bill, with a price tag of some $24 billion, would provide every American running out of unemployment insurance benefits this year with an additional 14 weeks. The out-of-work in states with jobless rates at 8.5 percent or greater would get six weeks on top of that.

It would also extend for seven months an $8,000 tax credit for first-time homebuyers that was enacted as part of the $787 billion stimulus package passed last February and is set to expire at the end of this month. The program would be expanded with a $6,500 credit for homebuyers who have lived in their current residences for five years.