Senate Finance Committee Chairman Max Baucus (D-MT) and Majority Leader Harry Reid (D-NV) “today introduced legislation to extend unemployment insurance benefits and eligibility for unemployment health care benefits through the end of 2010, including extending benefits retroactively so families will receive the benefits that were suspended when these programs expired on February 28,” according to a press release.
The bill “restores eligibility to receive unemployment insurance and COBRA health insurance benefits retroactively, beginning February 28, when the program expired, through December 31, 2010.”
It also “retroactively extends tax cuts for families and small businesses that expired at the end of 2009.” The bill, which has been offered as a substitute amendment to H.R. 4213, is called the American Workers, State and Business Relief Act.
You can read about all the specific tax extenders here.
Update: According to the Washington Post, this package will cost around $150 billion.
(credit image – getty)