In a recent turn of events President Obama and the Republicans in congress came to terms to on a tax cut extension through 2012. That means that all of the current tax breaks that are currently in effect will remain in effect for another 2 years till the end of 2012.
Those on unemployment can now except to see up to 155 weeks of unemployment benefits. The number of weeks that can be extended for has been increasing over time as the percentage of people unemployed has grown.
In the recent stimulus package passed by President Obama earlier this year, otherwise known as the American Recovery and Reinvestment Act of 2009, Obama provided many forms of stimulus and stimulus checks to provide the economy. The only mentions of a 2009 stimulus check for the American public were in two places in the recently passed Stimulus bill.
The first is a 2009 stimulus check for those on social security incomes, military pensions and railroad pensions. This is a $250 2009 stimulus check that is a one time payment similar to the 2008 stimulus check that President Bush issued last year. To qualify for the 2009 stimulus check you had to have already been on social security by the end of 2008 to receive your 2009 stimulus check in May 2009. If you started your social security income January 1, 2009 or later you do not qualify for this years stimulus check. However if there is a 2010 stimulus check similar to how the 2009 stimulus check worked you would qualify next year for that stimulus check.
The second part of the 2009 stimulus check is a tax rebate that amounts to $400 if you are single or $800 if you are married over the course of 2009. Starting in April 2009 the government is lowering the taxes withheld from your paychecks to the amount of about about $20/week so that over the course of the year it would amount to $400 (or $800). This is the only 2009 stimulus check that is available to those that are working. The 2009 stimulus check is essentially a $400 check paid over the course of the year.
This 2009 stimulus check that is being paid out weekly via a tax rebate will be in effect for 2010 as well. The amount of the money making up the 2010 stimulus check on a weekly basis is less then this years $20/week because it is spread out over the course of the entire year instead of 8 months.
There is not a singular 2009 stimulus check for those on employment, it is split up into several incentives. President Obama provided the following ways to help those on unemployment through the 2009 stimulus package.
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Today is the 2nd time that Obama will make history in Denver.
The first came last fall when he became the first black presidential nominee to run for president, giving the historic speech at Invesco Field at Mile High in front of a sold out 80,000+ crowd.
Today he will be back in Denver, CO in front of an invitation only event at the Natural History Museum to sign the American Recovery and Reinvestment Act of 2009 otherwise known as the Stimulus Package Bill. Denver was picked for its efforts in alternative energy and how it has been embraced throughout the state. Ranging from the 100 megawatt solar power array on top of the museum to the Vista Wind Turbine plant in Windsor, CO to all of the green buildings throughout Boulder and the Denver Metro Area.
The Stimulus Bill is the $787 Billion dollar package of tax cuts and new spending to help get more money into the hands of the American public, create new jobs, help those on unemployment, help college students and many other things as well.
The House and Senate finished and finalized the differences they had on the Bill to to come to the finish project that is being signed into law today.
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COBRA Health insurance is one of the many things being changed in the 2009 Stimulus reform act.
For those who lost their jobs between Sept 2008 and Dec 31, 2009, the goverment is going to do one of two things.
If you elected to take COBRA Health insurance they will pick up 65% of your monthly fee to be apart of COBRA.
If you elected to not use COBRA at the time you lost your job, your former employer will have to give you the option to join the COBRA plan with the current subsidized rate.
This along with the additional health insurance benefits of the stimulus package are both two great signs for the unemployed and those becoming unemployed every day.