Summary
The American Jobs and Closing Tax Loopholes Act of 2010, is slated for consideration by the House of Representatives shortly and is expected to move to the Senate for consideration next week. The bill is structured as an amendment to H.R. 4213, and represents a compromise between House and Senate legislation that had passed both chambers previously. The compromise was struck in lieu of a conference committee to hammer out differences between the two bills.
This Issue Brief outlines the components of H.R. 4213 of most interest to states, including the extension of additional Federal Medical Assistance Percentages (FMAPs) enacted as part of the American Recovery and Reinvestment Act of 2009 (ARRA; P.L. 111-5), unemployment insurance provisions, the Temporary Assistance for Needy Families (TANF) emergency fund, and expanded bonding opportunities that were included in ARRA.