Thanks to the NAR for this summary:

God help me, I hope something passes – anything that can be done to remove uncertainty from the market will be welcomed. Educate yourself by reading the entire bill at OpenCongress – if you do, you’re probably the first.

In short, if you were a first time homebuyer after 9 April, 2009, you may have a tax credit to claim.

Government Affairs Tax Credit Chart 021308