I Should Have Known! A few days ago the US Senate passed a bill that, like the House of Representative's version, would have provided a tax credit of 10%, up to $15,000 for anyone who purchased a primary residence home. It sounded like a good idea and I'm always in favor of tax cuts. That should have been enough to tell me that it just wouldn't happen. In the committee meetings to reconcile the two versions of the bill housing got pretty much kicked to the curb. The credit was reduced to a maximum of $8,000 for first time home buyers only - Much less attractive than the previous version of the bill. President Obama says he will sign the compromise version into law within the next few days although almost nobody (not even the elected officials who just voted) has had a chance to read or digest the 1000 pages plus legislation. The new discussion is on providing additional assistance to homeowners who are behind on their mortgages to try and stop the tide of foreclosu...
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I Should Have Known! A few days ago the US Senate passed a bill that, like the House of Representative's version, would have provided a tax credit of 10%, up to $15,000 for anyone who purchased a primary residence home. It sounded like a good idea and I'm always in favor of tax cuts. That should have been enough to tell me that it just wouldn't happen. In the committee meetings to reconcile the two versions of the bill housing got pretty much kicked to the curb. The credit was reduced to a maximum of $8,000 for first time home buyers only - Much less attractive than the previous version of the bill. President Obama says he will sign the compromise version into law within the next few days although almost nobody (not even the elected officials who just voted) has had a chance to read or digest the 1000 pages plus legislation. The new discussion is on providing additional assistance to homeowners who are behind on their mortgages to try and stop the tide of foreclosu...