This weekend, Shaun Donovan, the secretary of Housing and Urban Development, said that “it was too soon to say” whether the Obama administration might revive its $8,000 tax credit for first-time home buyers or $6,500 credit for other home buyers.
In June, new home sales rebounded from their record-low rate to … the second-lowest rate ever recorded. The Commerce Department announced that home sales increased 23.6 percent to a seasonally adjusted annual rate of 330,000, up from an annual rate of 267,000 in May. The pace of sales declined More…
The Obama administration homebuyer tax credit program granted $9.1 million to 1,295 prisoners who were incarcerated when they said they purchased their home. Many such discrepancies are identified in a report by the Treasury Department Inspector General for Tax Administration and Internal Revenue Service today.
“In swiftly making the More…
While Sen. Harry Reid (D-Nev.) has stripped out most provisions of the $85 billion jobs bill proposed yesterday by Finance Committee leaders, the majority leader is reportedly interested in keeping the 2010 Social Security tax exemption for businesses that hire unemployed workers this year. That provision also includes More…
It was last December when Julio Angulo ignored the bitter cold and sat on a rusted patio chair in the front yard of his foreclosed home in suburban Manassas, Va. He sighed, resting his hand on his knee. He stared despondently at the sky. His lender had foreclosed on his More…
Enacted as part of February’s economic stimulus bill, the popular $8,000 tax credit for new homebuyers expires Nov. 30, prompting calls among some lawmakers to extend it for the sake of struggling consumers and a sputtering housing market.
Those calls gained some volume this morning in the Senate More…
rss