Posts tagged tax credit extension

Apparently the Tax Credit Closing Extension is Dead. For Now

in General Real Estate on

Despite shaving another $22 billion off the price tag of H.R. 4213 , the unemployment insurance, jobs and tax extenders bill, the Democrats this afternoon failed for the third time in three weeks to defeat a Republican filibuster.

…Spooked by concern about deficits, the Senate shelved a spending bill that included an extension of unemployment benefits, suddenly cutting off a federal cash spigot opened by President Barack Obama when he took office 18 months ago.

… “In effect, I think what we’ve done is pull ahead a lot of sales,” de Ritis said.

…Still, the number is so bad that it makes a decent case for an extension and retuning of the tax credit, de Ritis said. (hat tip: CR ) *editor’s note: I’m going to move this post to the sideblog shortly.

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So … Has the Tax Credit Closing Deadline Been Extended? Maybe.

in General Real Estate Politics on

I’m reading this morning that the amendment was approved: The Senate has amended a bill to give homebuyers who were under contract on a home purchase by April 30 an additional three months to close the deal and claim the federal homebuyer tax credit. … I read this on the OpenCongress site – Dems Lose Big on Unemployment Insurance/Tax Extenders Vote After two weeks of solid debate — and two weeks of people having their unemployment insurance cut off because of congressional inaction — the Senate this morning took their first test vote on passing H.R. 4213 , the “American Jobs and Closing Tax Loopholes Act of 2010.” … As you know, Senator Reid has been supporting an amendment to H.R. 4213 that would extend the deadline for closing for the homebuyer tax credit from June 30 to September 30. … But also yesterday, earlier in the day before Senator Reid’s amendment, the Senate voted against a motion that would move closer to ending debate on the bill and passing it.

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