President To Sign Measure
Published: November 6, 2009
(AP) - The White House says President Barack Obama this morning will sign a bill that expands a popular homebuyers tax credit and also extends unemployment benefits.
Congress yesterday completed work on the $24 billion economic package that seeks to help out the millions who have lost jobs and have been unable to rejoin the workforce. The White House announced Obama’s intention to sign the bill shortly after Congress finished the legislation.
Under the measure, an $8,000 tax credit for first-time homebuyers would be extended for seven months and expanded with a $6,500 credit for some prospective homebuyers who already own homes.
Advertisement
Reader Reactions
At least the government is doing something about the unemployment but it is not enough. I just hope that the government will offer new jobs to the people who were laid off. A company undergoing a layoff is never fun for employees. (However, management still gets ivory back scratchers – now who should be getting laid off, the people who can’t steer the ship, or the ones scrubbing the deck?) That said, a layoff of employees doesn’t guarantee that a company will return to profits afterward. Right now, the Small Business Administration offers American Recovery Capital loans, for companies that were doing well before the recession, and companies can use a furlough, if done legally. Though it isn’t easy to contemplate a layoff, it won’t guarantee debt relief, or that an already sinking ship will float again.
Post a Comment(Requires free registration)
- Please avoid offensive, vulgar, or hateful language.
- Respect others.
- Use the "Flag Comment" link when necessary.
- See the Terms and Conditions for details.
Advertisement