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Expanded Homebuyer Tax Credit Pending in Senate
| Senate leaders have agreed on an extension of the $8,000 first-time homebuyer tax credit along with a new $6,500 tax credit for move-up buyers, but it is unclear when the chamber will vote on the measure. The credit extension would run from Dec. 31, 2009 through April 30, 2010 and give buyers with a binding contract an extra 60 days to close. The tax credit extension raises the income limits to $125,000 for single-filers and $225,000 for joint filers. This applies to first-time and repeat buyers. To qualify for the $6,500 tax credit, repeat buyers must have used a previous home as a principal residence for five of the previous eight years. The Obama administration said it supports an extension of the first-time homebuyer tax credit. "In extending the tax credit, we urge Congress to include strict measures to combat tax fraud and protect responsible homeowners," Treasury secretary Timothy Geithner said. The tax credit extension is expected to be attached to a bill extending unemployment benefits by 20 weeks. Still, it is unclear when the Senate will pass the extension bill (H.R. 3548), despite broad bi-partisan support. The current $8,000 first-time homebuyer tax credit is set to expire Nov. 30. |
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1 comment:
To see what this nation has done to the Native American population is incredibly sad. Same as it happened in Mexico, and other countries with indigenous populations. Push them aside and make way for the mighty.
Lots of people say about Native Americans, "oh they just need to stop whining about the past and get on with things...nobody to blame but themselves...blah blah blah."
But that's just so short sighted. How can an entire population just pick themselves up from endless years of neglect, abuse and disenfranchisement, when this country has never put the correct amount of resources in place to help them do so? There's only so much a person can be expected to do when nobody is showing them the way to a better life?
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