Congress passes bill extending unemployment insurance, home buyer tax credit

Congress on Thursday completed final approval of a bill that includes several measures designed to spur the economy and help people who have lost their jobs, representing its latest intervention as the country suffers through its worst recession in decades.

The $24 billion bill, which the White House said President Obama will sign on Friday, would provide unemployment benefits of least 14 weeks for people out of work. Those in the more than two dozen states with unemployment rates above 8.5 percent would receive up to 20 weeks of the benefits. The legislation would also extend through April 30 a $8,000 first-time home buyer tax credit that was passed earlier this year.

Full story is available on The Washington Post

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