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Country could be stimulated…again

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It might not actually be called a “stimulus” by the White House, but according to a CNNMoney.com report, lawmakers are considering extending some of the measures in the $787 billion economic recovery package that was passed in February – and could add new ones as well.

Here are three of five measures that the report cited as potential provisions and their costs.

Unemployment benefits extension:

By the end of the year, 1.3 million unemployed people will run out of jobless benefits. The House of Representatives approved an extension of benefits, but the Senate has amended the measure and has yet to vote. The proposed extension would give workers an extra 14 weeks of benefits in every state and six more weeks in states where the unemployment rate tops 8.5 percent. The estimated cost is $2.4 billion.

COBRA Premium subsidy extension:

This subsidy helps unemployed workers who decide to continue health coverage from their former employers by picking up 65 percent of the cost of insurance for up to nine months for those laid off between Sept. 1, 2008, and Dec. 31, 2009. The White House supports an extension but it is not attached to any proposed legislation. With no set parameters for the extension, it’s hard to determine the cost. The original measure was estimated to cost $25 billion. There will likely be a cost to employers to help fund any extension.

Homebuyer tax credit expansion:

The current program, which awards a credit of $8,000 to first-time home buyers, is set to expire on Nov. 30. One amendment attached to the unemployment extension bill would extend the credit until the end of June 2010, and make it available to single filers making up to $150,000 and joint filers making up to $300,000. Currently, “political skirmishes” between the Democrats and Republicans have stalled passage of the unemployment bill, so whether the amendment remains attached is in question. The amendment would cost an estimated $16.7 billion.

Read about the other two potential measures — jobs credit creation and emergency payment to seniors.