New home buyers would continue to get a tax credit and the jobless could get up to 14 additional weeks of unemployment insurance, as a result of a bill passed 430-12 today, following unanimous passage by the Senate last night.
The measure extends the $8,000 credit for first-time buyers that was set to expire at the end of the month and gives a credit of up to $6,500 to repeat buyers who have been in their home for at least five years.
The credit would apply to contracts entered into through April 30 and closed before July 1.
The home buyers' credit would be available to individuals earning up to $125,000, or $250,000 for couples, up from $75,000 for individuals and $150,000 for couples under the current law.
The 14-week extension applies to people who have exhausted their benefits. The measure provides for six additional weeks to people in states with unemployment rates of 8.5% or higher.
