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Wednesday, March 10, 2010

$66,000,000,000 (billion) for Additional Jobless Unemployment benefits Passed by Senate

Jobless Bills Passes

For those who have been on the unemployment line for some time you might breath a brief sigh of relief.

"Senate passes jobless aid, business tax breaks
Bill will add $130 billion to the budget deficit over next year and a half"

as reported By Andrew Taylor (MSNBC)
updated 7 minutes ago

WASHINGTON - "The Senate voted Wednesday to extend a host of soon-to-expire elements of last year's economic stimulus measure, including help for the jobless and money to help financially strapped states pay for health care for the poor."

"The $66 billion cost of providing additional months of unemployment checks — the core benefit is 26 weeks — is added directly to a budget deficit expected to hit $1.6 trillion this year. Federal cash to help states with Medicaid adds about $25 billion more.

But Democrats said it would be heartless to cut off unemployment benefits to the long-term jobless and contended that the benefits inject demand into the economy, helping to lift it.

The tax breaks include a property tax deduction for people who don't itemize, lucrative credits that help businesses finance research and development and a sales tax deduction that mainly helps people in the nine states without income"

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