Tax Credit Extension to be voted on…

The vote to extend the tax credit has been pushed to the first week of November, 2009. It could be pushed even further but considering we are coming up on the final days it would probably be best for them to get it voted in as quickly as possible.

1.2 million homeowners have taken advantage of the tax credits since the inception of them this year. 8.5 billion dollars of the 13.6 billion set aside for the credits has been used and it has been a wonderful boost to our suffering economy.

Chances are the credit will be extended at least through some part of 2010 but we’re not sure what other changes may be made.

There is talk of raising the dollar amount, phasing it out in smaller amounts throughout 2010, raising the qualifying income per household from $150,000 to $300,000, as well as some other small changes but the biggest change to a new credit extension that most of the lawmakers seem to agree on is that this will be the last extension.

We’ll see what happens next week.

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