Temporary Assistance for Needy Families (TANF) and Unemployment
Waives interest on Federal loans to state unemployment benefit programs through CY2010.
(Costs $1.1b / 11)
Extends TANF supplemental grants through FY 2010.
(Costs $319m / 11)
Allows States to spend TANF carryover funds on noncash benefits.
(No long-run cost)
Appropriates additional $400 million for Social Services Block Grant funding.
(Costs$400m / 11)
Excludes up to $2,400 of unemployment insurance benefits from 2009 gross income.
(Costs $4.7b / 11)
Extends current trade adjustment assistance program (placeholder for expansion).
(Costs$108m / 11)
Prohibits collection of certain payments made under Continued Dumping and SubsidyOffset Act (Byrd Amendment
disbursements on imports from Canada and Mexico.
(Costs$90m / 11)
Major provisions in the House bill but not the Senate bill:
Grants to States for low-income housing in lieu of low-income housing credit 2009allocations.
(2009 outlay of $3b, largely offset over 11 years by revenue increase of $2.9b)
Grants for specified energy property in lieu of tax credits
(2009 – 2011 outlay of $158m; largely offset by increased 2009-2016
revenue of $153m)
Medicare Provisions: Long-Term Care Hospital earmarks and the delay of hospice andIndirect Medical Education regulations.
GAO study of economic and employment effects of bill.
Similar provisions with important differences:
Making Work Pay Credit: House
costs $145.3b / 11
. Senate reduces the credit by amountspaid by SSA, Railroad Retirement and VA, and also phases-out the credit at lower AdjustedGross Income level,
costs $139.4b / 11
Refundable Child Tax Credit: House temporarily reduces earnings threshold to $0,
costs$18.3b / 11
; Senate temporarily reduces earnings threshold to $8100,
costs $7.2b / 11
American Opportunity Tax Credit: House – 40% of the credit is refundable, costs
$3.5b / 11
;Senate 30% of the credit is refundable,
$2.7b / 11
Extension of homebuyer credit: House waives repayment requirement unless home isresold within 36 months,
costs $2,562 / 11
; Senate waives repayment requirement unlesshome is resold within 24 months, increases credit to $15,000, eliminates the income phase-out, and extends the credit through 2009,
costs $35.5b /11
. Business Taxation
3% withholding on government contracts: House permanently repeals,
costs $10.9b / 11
;Senate has 1-year delay,
costs $291m / 11
Extension of Net Operating Loss carryback period to 5 years: House imposes a 10% haircut,
costs $54b / 2, $15b / 11
; Senate has no haircut,
costs $67.5b /2,
$ 19.5b / 11
Section 25C investment tax credit for improving energy efficiency of existing homes.House
costs $4.3b /11
; Senate imposes stricter qualification standards,
costs $1.9b / 11