Senate Advances Tax Break for Homebuyers


	Senate Advances Tax Break for Homebuyers

muckdog

2-4-2009 11:07 PM

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tags:

taxes, real e

muckdog says:

Do you think a one-time tax credit of $15K will help? Most folks seem worried about their jobs and monthly income stream.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/2252393f-b5b0-448f-8919-9de6f01eadcd/6E498451-7993-45AF-8B3C-E9FC01027012/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2009/02/05/us/politics/05stimulus.html?hp" href="http://www.nytimes.com/2009/02/05/us/politics/05stimulus.html?hp" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/02/05/us/politics/05stimulus.html?hp"><NYT_HEADLINE type=" " version="1.0">
Senate Advances Tax Break for Homebuyers
</NYT_HEADLINE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/02/05/us/politics/05stimulus.html?hp"><P>WASHINGTON — The Senate on Wednesday voted to expand the economic <A title="More articles about economic stimulus." href="http://topics.nytimes.com/top/reference/timestopics/subjects/u/united_states_economy/economic_stimulus/index.html?inline=nyt-classifier">stimulus package</A> with a tax credit for homebuyers of up to $15,000, a provision championed by Republicans as addressing a root cause of the recession. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/02/05/us/politics/05stimulus.html?hp"><P>The tax break for homebuyers, which the Senate approved by voice vote without opposition, was the second amendment in two days intended to encourage consumers to make major purchases. On Tuesday, the Senate approved a tax incentive for car buyers, sponsored by Senator <A title="More articles about Barbara A. Mikulski." href="http://topics.nytimes.com/top/reference/timestopics/people/m/barbara_a_mikulski/index.html?inline=nyt-per">Barbara A. Mikulski</A>, Democrat of Maryland, that would allow the deduction of sales tax and loan interest on purchases made this year. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/02/05/us/politics/05stimulus.html?hp"><P>The tax credit would give buyers 10 percent of the price of a primary residence bought within one  year, up to $15,000, and is intended to stabilize plummeting home prices, which caused a wave of foreclosures and led to the near collapse of the financial system as Wall Street firms wrote down billions in mortgage-backed assets. </P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/6E498451-7993-45AF-8B3C-E9FC01027012/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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