bobbyw24
03-10-2010, 02:35 PM
By Walter Alarkon - 03/10/10 03:06 PM ET
The Senate passed about $140 billion in extensions of expiring unemployment aid and tax provisions Wednesday, calling the package a necessary step during the economic recovery.
The bill passed on a 62-36 vote. Six Republicans joined most Democrats in backing it.
The bulk of the bill's cost -- about $80 billion -- goes toward prolonging increased levels of federal unemployment aid and COBRA healthcare benefits for the jobless through the end of December.
The rest of the measure extends the current rate of Medicare payments to doctors, which is scheduled to see a 21 percent rate cut, and several tax breaks, including ones for homeowners who don't itemize deductions, for states with sales taxes but no income tax and for companies' research and development costs.
Democrats said the measure was just one step of their job-creation agenda aimed at reducing the 9.7 percent unemployment rate. The bill was "necessary to continue to spur economic growth and create jobs," said Sen. Bob Casey (D-Pa.). Unemployment benefits would provide relief to jobless Americans who would then use the aid and provide an economic boost.
Republicans who voted no said it would add more than $100 billion to the deficit, which the White House expects to hit a record $1.56 trillion this year.
http://thehill.com/homenews/senate/86015-senate-passes-extension-of-some-unemployment-benefits
The Senate passed about $140 billion in extensions of expiring unemployment aid and tax provisions Wednesday, calling the package a necessary step during the economic recovery.
The bill passed on a 62-36 vote. Six Republicans joined most Democrats in backing it.
The bulk of the bill's cost -- about $80 billion -- goes toward prolonging increased levels of federal unemployment aid and COBRA healthcare benefits for the jobless through the end of December.
The rest of the measure extends the current rate of Medicare payments to doctors, which is scheduled to see a 21 percent rate cut, and several tax breaks, including ones for homeowners who don't itemize deductions, for states with sales taxes but no income tax and for companies' research and development costs.
Democrats said the measure was just one step of their job-creation agenda aimed at reducing the 9.7 percent unemployment rate. The bill was "necessary to continue to spur economic growth and create jobs," said Sen. Bob Casey (D-Pa.). Unemployment benefits would provide relief to jobless Americans who would then use the aid and provide an economic boost.
Republicans who voted no said it would add more than $100 billion to the deficit, which the White House expects to hit a record $1.56 trillion this year.
http://thehill.com/homenews/senate/86015-senate-passes-extension-of-some-unemployment-benefits