Congress Passes Tax Credit Extension/Expansion

This just in:

Dear Fellow REALTOR®,


I am VERY excited to report that Congress has answered our call to extend and expand the homebuyer tax credit!

Both the House and the Senate have passed an unemployment insurance bill, which includes an amendment that expands and extends the tax credit. That bill will be sent to President Obama for his signature in the next day or so.

I have recorded a special edition of my President's Podcast, with details on the new tax credit and when it takes effect. Please take just a couple of minutes to listen.

http://www.realtor.org/about_nar/presidents_report/_podcast_archive/mcmillan_taxcreditexte nded_20091105

We also have posted a comparison chart on Realtor.org. This can be a helpful resource as you work with buyers to take advantage of the credit in the months ahead.

http://www.realtor.org/fedistrk.nsf/files/government_affairs_tax_credit_ext_chart_110409.p df/$FILE/government_affairs_tax_credit_ext_chart_110409.pdf

On behalf of NAR, I thank you all for your participation in our advocacy efforts on this issue. Not only did we set a new record on responses to Calls for Action, but we helped move another step closer to a brighter future for America's families and our economy.

Sincerely,

Charles McMillan, CIPS, GRI
2009 NAR President