In a statement issued by Harry Reid, the Senate Majority Leader has confirmed that the Congress might approve the extension of the $8,000 homebuyers credit tax scheme and unemployment benefits. The approval is expected to come through as soon as early next week. The scheme, the actual deadline of which was December 01, has been much useful to people in the current financially crunching times.

“The House said that they would accept that (the extension) and that could be done as early as November 3", Reid said. "That would be a great relief", he added. Reid also confirmed that a late vote scheduled on November 02 would bring the debate which has gone on for long to an end.

Under the proposed plan, homebuyers who have lived in their previous residence for a minimum of five years might receive a credit of $6,500. Additionally, couples who jointly earn as much as $225,000, as well as individuals earning up to $125,000, would qualify for the tax credit. Also, the proposal calls for spending as much as $2.4 Billion for extension of unemployment benefits.

The extension for the scheme's deadline has come as a relief to the general population. Demands for the same had been made for very long.