Senate votes to extend home tax credit deadline
Posted by Alexis Walls Guillory
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The Senate on Wednesday voted to give homebuyers more time to settle on their contracts and take advantage of a popular tax credit.
The Senate, on a vote of 60-37, accepted an amendment by Democratic Leader Harry Reid that extends the closing deadline to September 30 for buyers who met the April 30 deadline to have a signed contract.
The current deadline requires those buyers to close the transaction by June 30 to receive the $8,000 tax credit for first-time homebuyers. Reid offered the measure as an amendment to a bill that would extend some popular business tax breaks and extend unemployment insurance benefits for jobless workers.
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