Thursday night Senate Majority Leader Harry Reid filed for cloture on the bill extending unemployment benefits, together with a substitute amendment including expansion and extension of the home buyer tax credit and extension of tax loss carry back time periods. The cloture filing fills the tree on the substitute amendment, meaning that Republican amendments on the floor will be prohibited.
The need for floor votes today on the Interior – Environment appropriations bill including the continuing resolution through December 18, 2009, and the fact that the cloture petition will be voted on at 5:00 p.m. Monday, a Senate floor vote on the unemployment benefit extension could come later Monday evening, and the House is expected to pass the bill with the home buyer tax credit expansion and tax loss carry back extension later in the week. Passage will provide extended benefits to about 2 million Americans whose benefits have run out or are ending this month.
The expanded housing tax credit will be available to any family earning less than $250,000 per year that hasn’t bought a new house in the last five years. The tax loss carry back time period will be extended from two to five years.
[Source:
Examiner]
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