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Yeah I know, we still have to wait for a final passage and who knows, maybe even a bit more tweaking. But I wanted to fill you in on at least the Recovery and Reinvestment Tax Act portion of the Stimulus package, as it stands now.
Yes, the House raised the amount of tax credit you could get from $7500 to $8,000. And now, it’s a true credit, not a loan to be repaid.
There is also a section of the package that talks about raising mortgage loan limits in areas that are considered more high risk (i.e., high foreclosure areas). If things stand as they are, the loan limits will be raised to $727,000.
Just like last time when the Bailout package was announced, the Speaker of the House website is ‘down’ and can’t handle the visitors (who says we don’t care what’s in the Bill?) Anyway, if you go to the site I mentioned the other day, ReadTheStimulus.org, you will have the option of scrolling down to where they say ‘final version’ and ‘see docs here.’ Some comfort in the fact they can’t get into Speaker’s website either. Bah humbug. 3C
11:30 pm update: The Senate passed the Bill. You can read about some of the specifics and a lot of the political maneuvering in this Washington Post article. President Obama still has to sign off on it but it sounds like a done deal. And it also sounds like rail and transit monies survived. Peace Out
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