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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. |
1 comment:
Very powerful video, skinnychef. Thanks for your continued antiwar activism.
You will not be surprised that as a proud Navy brat, I take issue with your indiscriminate antipathy toward all military service. Such service is conducted for the most part honorably by the least fortunate in U.S. society (see Albion's Seed for a discussion of the demographics of military service) so that the most fortunate smong us--including you and me--can avoid the tedium and indignity of military life. Rahm's support for compulsory service seems consistent with the Obama administration's commitment to social justice: that all young people find a way to serve.
As Americans pulling together, we all benefit, I believe, when we refrain from expressing contempt for fellow citizens who want nothing more than a free college education in return for 6 years of honorable service. Attributing murderous motives to servicemen and women seems to me both unfair and (worse) not supported by the facts.
Yes, war is horrible. This one particularly so because it was launched on a lie. Here at least I hope we can agree.
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