Sen. Specter Applauds Passage of Unemployment Insurance Extension

Worker, Homeownership and Business Assistance Act helps struggling Americans, first-time homebuyers and grows the economy

Washington, D.C. -- November 4, 2009 -- Today, Senator Arlen Specter (D-Pa.) commented on the passage of the Worker, Homeownership and Business Assistance Act. The bill provides 14 weeks of additional Federal-State Unemployment Insurance Program (UI) benefits to all states. In addition, it provides another six weeks of benefits to recipients in states such as Pennsylvania where unemployment exceeds 8.5 percent. The bill passed the Senate unanimously.

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“With states such as Pennsylvania experiencing record unemployment numbers, it is high time the Senate pass legislation to extend unemployment insurance benefits to millions of struggling Americans,” Senator Specter said. “As we work to recover our economy, we must continue to ensure that out-of-work families have the assistance and support to afford the basic necessities and stay in their homes. It is unfortunate that this much-needed relief was delayed by Republican-led tactics for over a month, during which time 200,000 Americans saw their benefits expire.”

The bill also contains Business and Homebuyer Assistance Provisions which extend through April 30, 2010 the tax credit for first-time homebuyers (up to $8,000 or up to 10 percent of the purchase price of the residence), allowing 60 days to close, provided that the homes are under a binding contract by that date.

Senator Specter has a record of advocating for the temporary extension of unemployment compensation during economic downturns, including his decisive vote on the stimulus package which helped to provide the funding to extend the valuable Emergency Unemployment Compensation Program through December 2009. Senator Specter supported the creation of the Emergency Unemployment Compensation Program in June 2008, which provided up to 13 additional weeks of unemployment compensation to workers who had exhausted regular benefits. In November 2008, Senator Specter supported legislation to extend the program and increase the number of weeks from 13 to 20.

Source: Senator Arlen Specter