Congress passed legislation expanding an $8,000 tax credit for first-time homebuyers, extending unemployment benefits and providing tax refunds to money-losing companies.

The House approved the measure today on a 403-12 vote, sending it to President Barack Obama, who will sign it tomorrow, according to spokeswoman Jen Psaki. All 12 House members voting against the bill were Republicans. The Senate passed the bill 98-0 yesterday after weeks of delays.

Estimated to funnel $45 billion into the economy this year, the legislation is the first major expansion of provisions in February’s economic stimulus package. The bill would extend until April 30 the tax credit for first-time homebuyers that would otherwise expire at the end of this month.

The jobless would get as many as 20 additional weeks of unemployment assistance. Companies would be given expanded ability to apply losses to previous years’ income, allowing them to qualify this year for $33 billion in tax refunds, according to Congress’s Joint Committee on Taxation.

“The homebuyers’ credit has helped pave the way for stabilization in the housing market and contributed to three consecutive months of rising home prices,” said Representative Jim McDermott, a Washington Democrat. “Its extension will continue to make homeownership more affordable and bring confidence to a housing market and economy that remain fragile.”

U.S. unemployment is projected to average 9.85 percent next year, according to the median estimate in an October survey of economists by Bloomberg News. Lawmakers are considering whether to extend other elements of the stimulus package, including subsidies to help unemployed people buy health insurance.

The legislation approved today would allow the credit for couples earning up to $225,000 a year and individuals earning up to $125,000. That’s up from the current $75,000 limit for individuals and $150,000 for couples.

It would allow homebuyers who have owned their residence for at least five years to receive a $6,500 credit. Those who sell their new home or no longer use it as their main residence within three years would have to repay the credit. Homes worth more than $800,000 wouldn’t be eligible.

A Nov. 3 Goldman Sachs Group Inc. report said most of those who claim the credit would have bought homes without the program. It estimated the initiative spurred 200,000 home sales that otherwise wouldn’t have occurred.

Tags: $8000 tax credit, 6500 home buyer tax credit, 6500 tax break, 6500 tax credit, 8000 home buyer tax credit, extension of homebuyer tax credit, first time home buyer credit extension, first time home buyer tax credit 2010, home buyer tax credit, Homebuyer Tax Credit, homebuyer tax credit 2010, homebuyer tax credit extension, hr 3548 update, National Association of Home Builders