Sen. Cardin Lauds Extension Of Tax Credit For First-Time Homebuyers, New Credit For Step-Up Purchases
By admin - Posted on November 6th, 2009
November 4th -- "Today I praised the Senate for its timely action to keep the $8,000 credit from expiring at the end of this month. In September, I led a group of Senators, including Johnny Isakson (R-GA), Harry Reid (D-NV), John Ensign (R-NV), and Debbie Stabenow (D-MI), introducing a bill to extend the first-time homebuyers' tax credit.
Today, the Senate passed the H.R. 3548, the Workers, Home Owners and Business Assistance Act, which included a provision I co-sponsored extending the first-time homebuyers tax credit and providing a new $6,500 tax credit for so-called step-up homebuyers who have been in their current home for the last five years. Both credits are designed to continue to provide a temporary boost to the housing market at a critical time in its recovery.
The first-time homebuyers' tax credit has worked. In Maryland, it's estimated that nearly half of all home sales in 2009 are to first-time home buyers. Nationwide, it has triggered hundreds of thousands of sales that would not have happened if not for this tax credit. While there are signs the housing market is stabilizing, there is much more to be done. The credit has succeeded in lessening the glut of homes for sale but our economy is still hurting."
Source: Senator Benjamin L. Cardin
Scroll down for related articles:
Related articles
- 2009-11-06: Sen. Cardin Lauds Extension Of Tax Credit For First-Time Homebuyers, New Credit For Step-Up Purchases
- 2009-11-04: Sen. Brown Supports Bill to Extend Unemployment Benefits and Expand Homebuyer Tax Credit
- 2009-10-30: Gillibrand Takes Action To Crack Down On Fraudulent Use Of First-Time Homebuyer Tax Credit
- 2009-10-30: Senator Dodd Praises Agreement to Extend the Homebuyers Tax Credit
- 2009-10-28: Sen. Casey Bill Targets Fraud in Homebuyer Tax Credit
- 2009-11-04: Rep. Dahlkemper Supports First-Time Homebuyer Tax Credit Extension
- 2009-11-04: Sen. Murray Pushes for Extension of Homebuyer's Tax Credit, Unemployment Benefits
- 2009-11-02: Rep. Gordon Calls for Homebuyer Tax Credit Extension
- 2009-11-02: Sens. Klobuchar, Franken: $90 Million in Federal Funds to MN Businesses
- 2009-10-30: Administration Calls on Congress to Approve Key Housing Measures
- 2009-10-20: Rep. Hare Calls for Extension of First-Time Homebuyer Tax Credit
- 2009-10-16: Shea-Porter Urges House Leadership to Extend Tax Credits for First-Time Home Buyers
