The House plans to vote today on a $145 billion, 10-year appropriations bill. Here is how some elements would affect the state.
■ Jobless benefits and other safety net funding. Would extend several programs designed to help the poor and unemployed during the economic recovery. The ongoing extension of unemployment insurance, which is set to expire this month, would be continued until Nov. 30. COBRA benefits, also set to expire at the end of May, would also be extended through Nov. 30. There are roughly 250,000 people on unemployment assistance in Massachusetts, according to Senator John F. Kerry’s office.
■ Summer jobs. Would help fund 300,000 jobs for those ages 16 to 24 across the country, extending programs funded through the federal stimulus. Costing $1 billion, it would provide about 8,000 summer jobs in Massachusetts, according to state officials.
■ Funding for states. Would extend higher-than-normal Medicaid reimbursements for the first six months of next year, at a cost of $24 billion. Governor Deval Patrick and Massachusetts lawmakers are counting on about $700 million coming in for next year’s budget, so if the funding doesn’t materialize, further cuts would be required.
■ Change in investment income: Would tax investments by investment managers as ordinary income instead of as capital gains. This would hit the wallets of venture capital and hedge fund managers and would increase federal revenues by $19 billion over 10 years. It could affect Massachusetts particularly hard, since the Bay State has the second-highest volume of venture capital investment in the country, behind California.
SOURCES: Congressional Budget Office, House Ways and Means Committee
