AHLSTARZ Tax and Accounting Service -- Numbers, Simplified.

President Obama on March 2 signed the Temporary Extension Act of 2010 (P.L. 111-144, HR 4691) following five tumultuous days of a Senate hold placed on the legislation by Sen. Jim Bunning, R-Ky., over offsetting the cost. Obama, in a written statement, commended the Senate for bipartisan approval of the measure and consequently ending "this roadblock to relief for America's working families."

The new law provides a 30-day funding extension for unemployment compensation, COBRA premiums, Medicare physician payments and therapy caps. It also temporarily funds surface transportation and flood insurance programs, small business loan guarantees, federal poverty guidelines and retransmission of television broadcasts. The measure passed the Senate by a vote of 78-to-19 late on March 2.

By Paula Cruickshank, CCH News Staff

Temporary Extension Act of 2010, Signed by the President on March 2, 2010, P.L. 111-144