Washington, DC – November 9, 2009 – (RealEstateRama) — On Thursday, the House of Representatives overwhelmingly passed HR 3548, the Worker, Homeownership, and Business Assistance Act of 2009 by a vote of 403 to 12. This bill provides critical aid to families in Southeast Michigan and across the country in the form of extended unemployment benefits, tax relief to businesses, and an extension and expansion of the homebuyers’ tax credit.
The bill, which was passed earlier this week by the Senate, now goes to the President’s desk, where it is expected to be signed into law.
A copy of Congressman Conyers’ statement of support is below:
Statement of Congressman John Conyers, Jr. on
Worker, Homeownership, and Business Assistance Act of 2009
November 5, 2009
I rise today in strong support of HR 3548, which extends unemployment benefits to scores of Americans who are out of work due to the severe downturn in the economy. The bill will also continue to extend the First Time Home Buyer Tax Credit though April 30, 2010.
The $8,000 First Time Home Buyer Tax Credit program has allowed approximately 350,000 hard working Americans to achieve the dream of home ownership this year. Given that this nation is still struggling, providing American families with an $8,000 home buyer tax credit will stabilize the housing market and stimulate the economy. The bill will also provide a $6,500 homebuyer credit to current home owners who purchase another home.
Furthermore, providing an extension of the First Time Home Buyer Tax Credit will also help further stimulate job growth at a time when it is desperately needed. With the purchase of a home, other jobs are created in various sectors. This includes construction, plumbing, home appliances, and numerous other jobs that are the result of expanding affordable housing. There is also evidence that suggests that neighborhoods are safer and become more stable when there are high rates of home ownership in the community.
This legislation also extends unemployment benefits to millions of Americans who otherwise would lose much needed and deserved benefits. In this sluggish economy, American workers are finding it more difficult to find good jobs and this benefit will fill this gap.
This bill could not be any timelier. It extends a provision that allows states with high unemployment, like Michigan, to provide a total of twenty weeks of extended benefits.
Madam Speaker, I believe today’s legislation will further help the workers of Michigan through these difficult times. I rise in strong support of HR 3548 and urge my colleagues to support today’s legislation.
For more information about this bill, please visit the following websites:
State of Michigan’s Unemployment Insurance Agency
Department of Labor – Unemployment Insurance
IRS – Homebuyer Tax Credit
Contact: Karen Morgan (313) 961-5670