My colleagues have been posting about this all week, but I wanted to wait until it seemed like there really was going to be an extension to the FTH Buyers Federal Tax Credit. Yesterday it passed in the Senate (and not one Senator voted against it, imagine that).
The House passed the Home-buyer Tax Credit extension and expansion this afternoon 403 in favor and 12 opposed. The final step is the President Obama’s signature. He is expected to sign the bill tomorrow.
Along with first time home buyers, the new Bill allows for ‘trade in’ home buyers, those who already own homes, to get a credit as well.
Once President Obama has signed the Bill, I’ll put all the details here.
No matter how you feel about bailouts and government spending our money, this tax credit seems to be the single portion of the Recovery Act that is working. (Well now the bill is part of an unemployment benefits extension too). With Chrysler working hard to put televisions in cars instead of something useful, I’d much rather money go towards home owners. How about you? Peace Out – 3C
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