November 5, 2009
The NAM-supported language extending and expanding both a homebuyer credit and a five-year NOL carry back will soon be signed into law. After three procedural votes, the Senate on November 4 unanimously approved (98-0) unemployment insurance benefits extension legislation (H.R. 3548) that includes the NAM-supported NOL/homebuyer credit language. The House showed overwhelming bipartisan support for the Senate-passed bill in an expedited vote earlier today, clearing the measure for the President, who has promised to sign it. The NAM leads the business coalition urging Congress to pass temporary, expanded NOL carry back relief, which would provide quick tax refunds to struggling companies in a broad cross-section of industries.
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