Rep. Halvorson Votes to Extend Homebuyer Tax Credit, Unemployment Insurance

November 6, 2009 – (RealEstateRama) — Working to help those hardest hit by the struggling economy, and provide greater opportunities to realize the American dream, Rep. Debbie Halvorson (IL-11) voted to pass the bipartisan Emergency Unemployment Compensation Extension Act.”All across our district our friends and neighbors are in danger of losing their unemployment benefits, and our economy is struggling to recover, this bill is a big step in turning that around,” said Halvorson. “By extending these benefits we are helping our communities today so they can be stronger and more prosperous tomorrow.”

The bill, which passed by a margin of 403 to 12, provides all states with 14 weeks of additional unemployment benefits, and 20 weeks of additional benefits to the top 27 states with the highest unemployment rates, which includes Illinois. Workers in Illinois who have exhausted or will soon exhaust their unemployment will be eligible for an additional 20 weeks of compensation. The bill, HR 3548, previously passed the Senate yesterday.  The President is expected to sign the measure.

This legislation 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. It also helps military families struggling to make mortgage payments by making those payments tax-exempt.

“Families across our district will feel the immediate effects of this bill,” said Halvorson. “I’m proud to have worked to deliver this relief to so many who need it, and look forward to working to continue to improve our economy in Illinois.”