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Rep Hoyer: House To Take Up Jobless Benefits Bill

By Corey Boles, Of DOW JONES NEWSWIRES

WASHINGTON -(Dow Jones)- A top House Democrat said Tuesday that legislation extending federal unemployment insurance benefits will be brought up by the House for a vote shortly after it is passed by the Senate.

House Majority Leader Steny Hoyer, (D., Md.) said at a weekly press conference that the legislation extending the benefits is a "critically important issue" and said the House will take it up as soon as possible.

Hoyer said two additions to the bill in the Senate to extend a home buyers' tax credit and open a one-off window for all businesses to write off losses incurred in the past two years against profits earned in earlier years would likely be acceptable to House lawmakers.

The lawmaker has previously expressed misgivings about the home buyer credit due to both its cost and allegations of fraud against some claiming it. He repeated that concern Tuesday, saying he would have preferred that Senate lawmakers hadn't extended the credit as part of the unemployment benefit legislation.

"I would prefer they did not do the changes they had affected, but they did, and I think they will be acceptable," Hoyer said.

The House passed a 13-week extension of federal jobless benefits for many Americans in September. The Senate has been stuck in a partisan dispute over how to proceed on the bill since then.

Friday, Democratic leaders introduced a measure including up to 20 weeks' additional benefits. It would also continue the $8,000 home buyers' credit until the end of April, and create a new credit of $6,500 for many existing owners' buying a new home.

A vote on final approval of the bill could occur on Wednesday in the Senate. House lawmakers would then need to approve the changes before the legislation is sent to the White House for President Barack Obama's signature.

The national jobless rate reached 9.8% in September, and many economists expect it rise further when the Department of Labor releases October's numbers Friday.

-By Corey Boles, Dow Jones Newswires; 202-862-6601; corey.boles@dowjones.com

  (END) Dow Jones Newswires
  11-03-091113ET
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