Senate seen extending a reduced first-time home buyer tax credit
Posted by: admin in Real Estate and HousingFiled under: Politics, Housing, Recession
Put this one under the the category of ‘a half-loaf is superior than none.’
Senate leaders are apparently poised to extend the $8,000 federal tax credit for first-time home buyers, Bloomberg News reported Monday.
However, the extension will not please all in the housing sector, as the Senate is working on a plan that would extend the credit, which expires November 30, for homes that close before April 1, 2010. The credit would then be reduced to $6,000, then $4,000, then $2,000 for homes that close in each successive quarter, until the end of 2010, at which time the credit program would end.
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Senate seen extending a reduced first-time home buyer tax credit originally appeared on BloggingStocks on Mon, 26 Oct 2009 17:30:00 EST. Please see our terms for use of feeds.
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