David Kirkpatrick

November 13, 2009

The Worker, Homeownership, and Business Assistance Act of 2009

This is a pretty nice rundown on the bill’s specs.

From the link:

The Worker, Homeownership, and Business Assistance Act of 2009 (H.R. 3548) was signed into law by President Obama on November 6, 2009. The bill began as a simple extension of unemployment insurance benefits but then several tax provisions were added to it, namely the expansion and extension of both the home buyer tax credit and the net operating loss (NOL) carryback rules.

1 Comment »

  1. Gretchen Morgenson has an article in the Nov 15 Sunday NY Times revealing that home BUILDERS are directly benefiting from this new package. It lets big home building companies offset losses incurred in 2008 and 2009 against profits booked as far back as 2004. This will mean tens to hundreds of millions of dollars in refunds to these companies next year. The homebuilders can chalk up their success to their lobbying groups. They will likely NOT use this extra cash to hire more workers in this climate. They MAY use it to buy more land…and cut down that tree you’re huggin’.

    Comment by Michael S. — November 15, 2009 @ 8:53 pm


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