House Democratic leaders released a scaled-down version of a tax and unemployment benefits extension bill Wednesday in an effort to get the measure approved before Congress breaks for its Memorial Day recess.
Under the revised bill H.R. 4213 – The American Jobs and Closing Tax Loopholes Act of 2010 – unemployment health benefits and COBRA subsidies, which would have been extended through Dec. 31 under the original bill, would be extended through Nov. 30 instead.
According to Roll Call, a newspaper covering Capitol Hill, "House leaders shrank the bill's price tag by about $50 billion Wednesday night in the Rules Committee, in a nod to fiscal conservatives' concerns about the size of the package and the deficit. The $127 billion bill would now add $84 billion to the deficit."
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.