Unemployment benefits extension still tied up with amendments

[tonysam]

The cloture vote in the Senate on extending unemployment benefits for an additional 14 weeks in all states, and 20 weeks in states with more than 8.5% unemployment, set for last Friday didn’t happen. The vote is rescheduled for Tuesday afternoon, depending on whether or not Senators can agree on proposed amendments on extending and expanding the homebuyer tax credit in the stimulus package, and extending business loss tax carry back provisions an additional two or three years.

Present leadership plans are to pass whatever final package is approved in the Senate, and send it to the House without any conference committee, for action later this week. Senate Majority Leader Harry Reid and Senate Finance Chairman Max Baucus are proposing a one year extension of the homebuyer tax credit, to begin phasing down from the $8,000 in the stimulus package in April, 2010. Real estate and housing construction interests oppose this version of the measure, citing April through June as the best home sales months of the year. Senator Johnny Isakson of Georgia proposes a seven month extension of the full $8,000 credit to carry through the summer selling season.

National Association of Realtors President Charles McMillan says the summer months are needed to bring down housing inventories to a normal six month level. “We can achieve a consistent six month supply if the $8,000 tax credit is extended without phase outs through mid 2010. Consumers, particularly first time buyers, need certainty about the amount of the credit so that they can plan their transaction without any worry that a timing problem would penalize them,” he said in a letter to Majority Leader Reid.

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How many weeks have I heard the Senate was going to take action "later this week" or "this week"?

I'll believe EUI passes in the Senate when I see it.