Will the 1st Time Home Buyers Tax Credit Get Extended? Harry Reid & John Ensign Support it...
Senate bill (S. 1678) recently introduced that would create a six-month extension of the $8,000 federal tax credit for first-time homebuyers and move the current expiration date forward to June 1, 2010.
Read more: http://rismedia.com/2009-09-20/realogy-supports-new-bi-partisan-senate-bill-to-extend-first-time-homebuyer-tax-credit-for-6-months/#ixzz0Rl8ckpIn
We are all wanting to get an answer...but we will just have to wait and see.
The bill was introduced by U.S. Senator Benjamin L. Cardin (D-MD), along with Senators John Ensign (R-NV), Harry Reid (D-NV), Johnny Isakson (R-GA) and Debbie Stabenow (D-MI). The current tax credit provision for first-time homebuyers, passed as part of the American Recovery and Reinvestment Act, expires December 1, 2009. According to the most recent data from the Department of the Treasury, nearly 530,000 Americans have applied for the tax cut to help them purchase their first home. About 40% of all homebuyers this year will be eligible for the tax credit.
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