It looks like the $15,000 homebuyer tax credit may not make it into the final “stimulus” plan after all…
Working to accommodate the new, lower overall limit of the bill, negotiators effectively wiped out a Senate-passed provision for a new $15,000 tax credit to defray the cost of buying a home, these officials said.
Under the finalized plan, Sen. Max Baucus (D-Mont.) has said that the $35.5 billion to provide a $15,000 homebuyer tax credit, approved in the Senate last week, would likely be cut back.
Update: The Associated Press is reporting that in the final version of the “stimulus” bill, instead of a $15,000 tax credit, the repayment requirement on last year’s first-time homebuyer $7,500 tax loan is being waived from January 1 through August 31 of this year, and the amount is being upped to $8,000.