Today the Senate version passed, now the House has their version…more money than the Senate version – they claim it has more emphasis on jobs. Here is a site where you can read the versions yourself: ReadTheStimulus.org. Both versions are there. I’m of course very interested in what will finally happen with passenger rail, but as a Realtor® I’m also concerned about the Tax Recovery and Reinvestment Act portion of it, as it most definitely assists home buyers.
The idea of opening it up as a ‘no repayment needed’ assistance was a good one. Even if the amount of money is not raised from the existing $7500 credit to $15,000 I can’t help but think it would be a boon to the economy to allow the credit to apply to all buyers, not just first time home owners, and allow the credit to stand as is, without repayment. Maybe those ideas make too much sense so they have no possibility of staying in the bill?
Only a few Republican Senators supported the Senate version, and I seem to recall Senator Snowe saying if more money is added to the House version all bets are off. Which gets me to my last point: can they actually pass a Bill soon enough to make a difference? Stay tuned.
Peace Out – 3C
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