There are dozens of articles on this site about the Home Buyer Tax Credit. You can see them all here.
For the most recent news about the Home Buyer Tax credit, please see this article (July 2, 2010).
PLEASE read this article carefully. If you are reading this, “The Senate” has NOT passed anything to do with extending the tax credit. This article shares a report that Senate DEMOCRAT leadership has reached an agreement. And as noted, the Republicans are not saying anything other than “We’re close.” Once leaders reach an agreement, the full Senate will have to vote. Then the House. Then the President must sign before ANYTHING changes.
Scroll to the bottom for updated links. This thing is changing by the moment!
The news wires are buzzing today with near constant updates on the possible extension / expansion of the first time homebuyer tax credit, which is set to expire November 30.
This just in moments ago from Reuters:
Top Democrats in the Senate have reached an agreement to extend the soon-to-expire $8,000 tax credit for first-time homebuyers, Senate Banking Committee Chairman Christopher Dodd said on Tuesday.
“We have that. Done,” Dodd told reporters. He declined to specify the details of the agreement.
a Republican who has worked with Dodd cautioned that they were still negotiating on the measure, which could come up for a vote on Tuesday evening as part of a package that would extend unemployment benefits.
“We’re close, we’re close but I can’t get into any details until it’s a done deal,” said Republican Senator Johnny Isakson.
This potential extension is in CONSTANT flux. Now we’ve got a Democrat Senate leader saying an agreement has been reached and the Republican doing the bulk of the work on that side saying “not so fast” (my words, not Senator Isakson’s).
Hang tight. I suspect something is going to break soon with more details.
And remember, a “deal” between lawmakers still has to get past a Senate vote. Then the House. Then the President. NOTHING is set in stone until all that happens.
Other Mainstream News sources:
On Oct 27:
Bloomberg: Senate Close to Deal Replacing Homebuyer Tax Credit
Reuters: Q&A US Senate closes in on homebuyer tax credit vote (updated 10/28)
Washington Post: The home-buyer tax credit: Throwing good money after bad [Great article!]
On Oct 28:
Reuters: Senators eye extending home credit to end of April – sources
CNN Money: $8,000 Home Credit Still in Play
CNBC: Senate Nears Deal on Keeping Tax Credit for Home Buyers
AP: Senators agree to extend homebuyer tax credit
Business Week: Expanded Home Buyer Tax Credit Likely
On Oct 29:
Washington Post: Extension of home buyers’ credit has wide Senate support
Wall Street Journal: Home Buyer Credit Gets New Life
Reuters: Obama admin urges Congress extend homebuyer credit
On Oct 30:
On Nov 4:
Washington Post: Senate passes bill extending homebuyer tax credit, unemployment benefits (Senate has passed the bill. House approval “likely” and possibly as early as Nov 5).