The government is now chewing over passing another housing stimulation act called the Home Buyer Tax Credit Act of 2009. Our own Senator Murray is a co-sponsor of this act and homes that it will help accelerate economic recovery by stabalizing the houseing market.
This legislation would authorize:
• Increasing the credit from $8,000 to $15,000.
• Extending the home buyer tax credit to all home buyers of any type of home.
• Eliminating income restrictions for eligibility.
• For 2010 purchases, taxpayers can claim the credit on their 2009 income tax return.
Senator Murray is also attempting to gain support to allow the tax credit to be used at closing.
Stay tuned.
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