Neal Votes to Extend Unemployment Benefits, Homebuyers Tax Credit and Business Tax Relief to Stimulate Local Economy

WASHINGTON, DC – November 6, 2009 – (RealEstateRama) — Congressman Richard E. Neal released the following statement today after the House of Representatives voted to stimulate the local economy by extending unemployment benefits and the first-time homebuyer tax credit. Additional tax relief will be targeted to military families and businesses. The House passed H.R. 3549, the Worker, Homeownership and Business Assistance Act of 2009, by a vote of 403-12.

“Today the Congress acted in a bipartisan manner to bring much needed relief to millions of Americans. Those individuals in Massachusetts who have lost their jobs due to the economic downturn will now receive an additional 20 weeks of unemployment benefits due to the passage of this bill.

By extending the first-time homebuyer’s tax credit, families can qualify for an $8,000 rebate if they purchase a home before April 30, 2010. Not only will our struggling housing market benefit, but our heroic military families will now have an easier time buying a home.

And as the lead sponsor of the net operating loss carryback provision, this legislation will help save jobs and protect businesses by providing immediate cash infusion for those concerns that simply can’t access credit.

I strongly urge President Obama to sign this bill into law immediately,” said Congressman Richard E. Neal.

CONTACT: William Tranghese (202) 225-5601