Tax Credit To Be Extended

The Senate voted wednesday to extend and expand the $8,000 first-time homebuyers tax credit, and passed the measure by a measure by a 98-0 vote.

The tax credit will be extended to applications taken by April 30th 2010 so long as they close by June 30th, and will also be expanded to those who have owned their current home for 5 tears and want to upgrade. Current homeowners will be eligible for tax credits up to $6,500.