Wednesday, February 4, 2009

Senate Bumps Up Homebuyers Tax Credit

Currently, a tax-credit of $7,500 is offered to new homebuyers.  The senate has voted to increase that amount to $15,000 as part of the economic stimulus package. 

The Senate voted Wednesday night to give a tax break of up to $15,000
to homebuyers in hopes of revitalizing the housing industry, a victory
for Republicans eager to leave their mark on a mammoth economic
stimulus bill at the heart of President Barack Obama's recovery plan.
The tax break was adopted without dissent, and came on a day in which
Obama pushed back pointedly against Republican critics of the
legislation even as he reached across party lines to consider scaling
back spending.

Look for more information in the coming week.  The original article can be found here.

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