• Washington Post Writers Group, Kenneth R. Harney
Bills to extend the maximum $8,000 tax
credit for first-time home buyers, which expires Nov. 30, are pending
in both the U.S. House and the Senate.
Sen. Christopher J. Dodd, a Connecticut
Democrat and chairman of the Senate Banking, Housing, and Urban Affairs
Committee, is co-sponsor of a bill with Georgia Republican Sen. Johnny
Isakson that would raise the credit amount to a maximum of $15,000.
Senate Majority Leader Harry M. Reid of
Nevada favors an extension of the current credit. He was quoted by the
Las Vegas Sun saying, "It's something we can get done."
Odds are that the credit will be extended
and broadened to cover all buyers next year, but the chances of the
amount increasing aren’t as good, observers say.
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