Tuesday, February 10, 2009

$15K Homebuyer's Tax Credit on "Chopping Block": WSJ

"The Senate passed the $838.2 billion plan Tuesday by a 61-37 vote. As lawmakers meet to reconcile the House and Senate versions of the legislation, the White House's effort to reshape it is likely to lead to skirmishes among House and Senate Democrats, as well as with moderate Republicans and Democrats who pushed to cut the size of the original Senate package."

"Other tax-cut proposals are on the chopping block. They include an $11.5 billion proposal to give car buyers a tax deduction covering local sales taxes and interest on auto loans, and
a $35 billion proposal to create a new tax credit for home purchases."

Read entire article here.
Previous posts on this topic here and here.

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