NEW YORK (CNNMoney.com) - Unemployed Americans are set to get up to 20 additional weeks of jobless benefits, while new homebuyers are poised to see the $8,000 tax credit extended into mid-next year.
The House approved the measures by a 403-12 vote Thursday afternoon, a day after the Senate passed the legislation. The bill now moves to the White House for the president's signature.
The closely watched legislation would extend jobless benefits in all states by 14 weeks. Those that live in states with unemployment greater than 8.5% would receive an additional six weeks. The proposal would be funded by extending a longstanding federal unemployment tax on employers through June 30, 2011.
The measure would apply to those whose benefits run out by Dec. 31, which is nearly two million people, according to Senate estimates. Those whose checks have already stopped would be able to reapply for another round.