Postcards from the Lake

Ike Skelton supports extending $8,000 tax credit

Congressman keeps hope alive for first-time homebuyer credit

I’ve written several Congressmen and Senators in the last few weeks, encouraging them to support an extension to the first-time homebuyer’s credit set to expire soon.   The response I received from Ike Skelton was encouraging:

 

 Dear Ms. Anderson:

             Thank you for contacting me regarding tax deductions

 for the purchase of new homes.  I appreciate hearing from you.

             In 2008, Congress enacted an optional $7500 tax credit  

for the purchase of a first home.  The credit was designed to be

  an interest free loan from the government to help first time home

 buyers with the costs associated with purchasing property.  The

 $7500 is required to be repaid to the government over a period

 of years. 

            In February 2009, Congress enacted H.R. 1, the American  

Recovery and Reinvestment Act.  This bill, which I supported,  

 included an $8,000 tax credit for first time home purchases made

between January 1, 2009, and December 1, 2009.  Unlike the

 $7,500 tax credit included in last year’s housing reform bill, this 

credit does not have to be repaid to the government unless the

purchaser sells the house or the house ceases to become her

 primary residence within a 36 month period. 

 

            I support extending the $8,000 tax credit and have

 cosponsored legislation and written to House leaders in

 support of that action.  While no votes have been scheduled,

 please know that I will closely follow this issue.

             Again, thank you for getting in touch with me. 

 With kind regards, I remain

 
Very truly yours,

IKE SKELTON
Member of Congress

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Author: | October 16th, 2009

This entry was posted on Friday, October 16th, 2009 at 1:26 pm and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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