Senate Majority Leader Harry Reid said today he expects Congress by year’s end to extend the $8,000 tax credit for first-time homebuyers.
The program was launched as part of the economic recovery act, and is set to expire Dec. 1. Those eligible are first-time homebuyers in primary residences.
Reid said the program has support from both Democrats and Republicans, and continuing it would be on the agenda before Congress adjourns in December.
“We are going to extend that,” Reid said during a conference call with Nevada reporters.
“It’s something we can get done,” he said. “We have to do it by the end of the year.”
The sharp downturn in home sales, especially in hard hit Nevada, has continued to be a drag on the economy. Home buying is one of the best ways to stimulate economic activity, as new homeowners seek other goods and services, he said.
Wednesday, August 5, 2009
Another Winning Move by Reid
Wow. Harry Reid just gave me another sweet surprise. Let's hope he can get this good program extended so more working families can afford to buy that first home... And stimulate our economy a little more.