| For immediate release November 5, 2009 |
Contact: Erin Donar
202-225-3611
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| Kildee Fights to Extend Unemployment Benefits for Michigan Workers | ||||
| Extends first-time homebuyer tax credit through April 2010 | ||||
| {WASHINGTON, DC – Today, Congressman Dale E. Kildee (D-MI) voted to extend unemployment benefits for workers in Michigan and across America. The Emergency Unemployment Compensation Extension Act, which Congressman Kildee introduced along with his colleagues, will amend the current Emergency Unemployment Compensation program to provide an additional 20 weeks of extended unemployment benefits in Michigan and other high unemployment states. This legislation passed the House of Representatives today and has already passed the Senate. The President is expected to sign this legislation into law shortly. “The current economic downturn has hit our manufacturing communities hard, causing too many hardworking Americans to lose their jobs through no fault of their own. Michigan has been particularly affected, and now leads the nation with a 15.3 percent unemployment rate. Families in my hometown of Flint have been hit even harder and are suffering from a near 30 percent unemployment rate. These families need our support as we continue working to revitalize our economy and create new jobs in our communities,” said Congressman Kildee. “This unemployment benefits extension will be extremely helpful for workers who are struggling under this difficult economic climate and I am proud to have joined my colleagues to introduce this legislation.” The bill also 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 “This important tax credit will help families across our country achieve the dream of homeownership. By assisting these homebuyers, we will also help stabilize our housing market and strengthen our economy,” said Congressman Kildee. Background on the Emergency Unemployment Compensation Extension Act: • Provides up to an additional 14 weeks of extended unemployment benefits; extends benefits for an additional six weeks (for a total of 20 weeks) in states with unemployment over 8.5 percent, including Michigan. • Extends the $8,000 homebuyer tax credit to first-time homebuyers with a binding contract before April 30, 2010, allowing 60 days to close. (Currently, it will expire November 30, 2009.) • Makes available a $6,500 credit available to homebuyers who have been in their current residence for five or more consecutive years out of the last eight years • These provisions will not add to the deficit: the bill extends the Federal unemployment tax through June 30, 2011, a tax that has been in place for more than 30 years and that President Bush proposed to extend. ###
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