Senators reach compromise on homebuyer tax credit extension

Filed in Gather News Channel by on October 28, 2009 0 Comments

Although the future of the pending federal unemployment benefits extension legislation has dominated the interests of thousands of unemployed Americans, there is another important piece of legislation the Senate is currently considering – extending both the length and scope of the first-time homebuyer tax credit. Today several senators reached a compromise on the legislation, which would extend the $8,000 credit until April 30, 2010, as well as add a separate $6,500 credit for other non-first-time homebuyer primary residences. The qualifying income limits would be raised, according to this article on Philly.com.

I support this extension but I believe it comes a far second behind the need to extend federal unemployment benefits.

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