Dear Mary,
I am writing to let you know about some good news out of the U.S. Senate yesterday.
After nearly four weeks of objections, stalling, and procedural votes forced by the minority, the Senate finally passed the Emergency Unemployment Compensation Act of 2009, which extends unemployment insurance in Michigan by up to 20 weeks. The House of Representatives passed similar legislation already, and this measure will soon be sent to President Obama and signed into law.
The bill passed yesterday will help at least 90,000 individuals in Michigan who could lose their unemployment benefits by the end of the year without this extension. Individuals who have already exhausted their benefits may also be eligible for the extension, although the payments would not be retroactive. Once the bill is signed into law, workers can check with the Michigan Unemployment Insurance Agency for more details about how to apply for these benefits.
The bill passed yesterday also included two other provisions to create jobs and strengthen our economy. Many of our Michigan businesses have struggled during this recession, and so the bill includes an expansion of a tax credit that I cosponsored in the Recovery Act to provide many small businesses a tax refund. Yesterday, we expanded that refund to cover all businesses who were once profitable, but who reported losses in 2008 or 2009. This tax refund will help those companies reinvest and expand their businesses during these difficult times.
It also included an extension of the successful first-time homebuyers tax credit through June 30, 2010. It expands the credit to help existing homeowners as well: if you have lived in your current home for at least five years, you can qualify for up to a $6,500 credit when you buy a new home. The homebuyers tax credit has already created thousands of jobs across the country.
While there is much work remaining to be done, the bill passed last night is key to our efforts to get America working again.
As always, please don't hesitate to contact me if ever my office can be of assistance to you or your family.
Sincerely,
Debbie Stabenow
United States Senator
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U.S. Senator Debbie Stabenow
The United States Senate • Washington, DC 20510
stabenow.senate.gov