June 11th, 2010

Unemployment Extension 2010 – HR 4213 Benefits, Tax Extenders Bill and Senate Vote. The unemployment extension remains unpassed, as the Senate hammers out some adjustments to the so-called “Tax-Extenders Bill.”  The adjustments so far have added to the cost of the bill, and many people aren’t happy about the changes.

Because of the changes, the bill will also have to go back through the US House of representatives before it can go to the President’s desk for signing.

What is changed? It would be different if the bill were altered to include a fifth tier of benefits -but that hasn’t happened.  The bill is adjusted to lower taxes on investment managers and venture capitalists (read: millionaires) and increase taxes on oil – meaning that the price of gas will go up at a time where it’s going to go up anyways because of the moratorium on offshore drilling and hurricane season.

The bill likely won’t be passed in the Senate until sometime next week.  There are millions of Americans in need of the bill’s passage for their financial survival, as it extends tiers 1-4 of unemployment benefits until November 30, 2010.  The benefits expired on June 2, 2010.

The Tax Extenders Bill does a lot of great things for those who are unemployed. However, it also has a lot of provisions in it that benefit big business and the wealthy.

Source:

Open Congress