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Senate Approves Extension Of UI, COBRA Benefits Through 2010

March 10, 2010 - by Eric Naing

The Senate has just passed a $140 billion bill includes an extension for unemployment benefits through the end of the year, tax credits and billions in emergency aid to states.

One week after approving a 30-day extension of unemployment benefits (H.R.4691), the Senate today passed the American Workers, State, and Business Relief Act (H.R.4321), which provides a longer-term extension of those benefits. Specifically, the bill extends federal unemployment assistance through Dec. 31 and provides a 65 percent subsidy for COBRA health insurance premiums. The coverage is retroactive to Feb. 28.

Other provisions in the bill include:

  • A seven-month delay in Medicare cuts to doctors costing $7billion
  • $25 billion in federal dollars to help states prevent layoffs of public employees like teachers and police officers
  • $26 billion in tax credits to encourage things like research and development and alternative energy

The measure passed in a 62-36 vote, with six Republicans joining almost every Democrats in voting “yes.” The Senate voted 66-33 earlier today to break a Republican filibuster of the bill.

To compensate for part of the $140 billion price tag, the bill closes the “black liquor” tax credit for paper companies and further cracks down on tax shelters. These revenue-generating measure may spell trouble when the bill goes back to the House for approval as both of these ideas have already been incorporated into President Obama’ s health care plan.

For more information, check out my previous post on the subject here.

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Comments

  • michael_laspina 03/10/2010 12:35pm

    to the people that run out of tier 4 benefits or are to shortly this does not pertain to you. we got to hope that they create a solution for us.

  • ConnerComply 03/11/2010 9:02am

    H.R. 4321: is the following – CIR ASAP Act of 2009

  • ConnerComply 03/11/2010 9:09am

    “the bill extends federal unemployment assistance through Dec. 31 and provides a 65 percent subsidy for COBRA health insurance premiums. The coverage is retroactive to Feb. 28”

    Where is this referenced in the Bill. I printed off the 110 page “full Text” and am not seeing language on extending the COBRA Premium Subsidy.

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