Senate Eyes Expanded Homebuyer Tax Credit

Senate leaders are nearing agreement on a six-month extension of the $8,000 first time homebuyer tax credit. It appears the tax credit will be expanded to more buyers and the income limits will be raised.

The current tax credit is limited to first-time homebuyers and expires November 30. Details are still being worked out. But the tax credit extension is expected to be rolled into a manager's amendment and attached to a bill that extends unemployment benefits (H.R. 3548).

The Senate is slated to vote on ending a filibuster Tuesday evening so that the senators can vote Wednesday on H.R. 3548 and send the extension bill back to the House of Representatives.

Senate Eyes Expanded Homebuyer Tax Credit

Senate leaders are nearing agreement on a six-month extension of the $8,000 first time homebuyer tax credit. It appears the tax credit will be expanded to more buyers and the income limits will be raised.

The current tax credit is limited to first-time homebuyers and expires November 30. Details are still being worked out. But the tax credit extension is expected to be rolled into a manager's amendment and attached to a bill that extends unemployment benefits (H.R. 3548).

The Senate is slated to vote on ending a filibuster Tuesday evening so that the senators can vote Wednesday on H.R. 3548 and send the extension bill back to the House of Representatives.

Protect Your Cell Phone

REMEMBER: Cell Phone Numbers Go Public next month.

REMINDER.... all cell phone numbers are being released to telemarketingcompanies and you will start to receive sales calls. ...... YOU WILL BE CHARGED FOR THESE CALLS.

To prevent this, call the following number from your cell phone:

888-382-1222. It is the National DO NOT CALL list.

It will only take a minute of yourtime. It blocks your number for five (5) years.You must call from thecell phone number you want to have blocked. You cannot call from adifferent phone number..

Third Ward Park Comes Closer

Here's an update on the Park courtesy of Third Ward FB group:From Mecklenburg County Park and Recreation:

"Dear Stakeholders, Although it may seem all is [quiet] at Romare Bearden Park, several key components of this wonderful project are gathering momentum:

Timetable: The Department is hopeful that construction could start late next summer. The County will release a portion of unsold 2004 bonds for sale next June. Construction of Romare Bearden Park is the number one priority for the Department - the park will be first in line when funding becomes available. We will know more as the County moves closer to the bond sale and determines specific department allocations.

Building Demolition: Asbestos abatement in the existing structures is underway. Once abatement is complete, in about a month’s time, the three buildings will be razed.

Public Art: On October 7th the Art and Science Council kicked off the artist selection process.

To date the ASC has risen over $225,000 to help support funding for a major art piece.Romare Bearden Foundation: The Department is working with the local liaison to the Romare Bearden Foundation. Jerald Melberg, gallery owner and former curator for the Mint Museum is helping us add the depth and richness of Romare Bearden through the careful selection of his works, text and thoughts; capturing Romare’s spirit that is to be incorporated into the interpretive signage throughout the park.

Fundraising: As we draw nearer to construction and the economic climate improves, Partners for Parks, the non-profit fundraising wing for the department, is gearing up to undertake a fundraising effort. We will pass along details of the fundraising effort as they progress.

An Extension for the Tax Credit?

Congress is considering expanding and extending the $8,000 first-time homebuyer tax credit, which expires Nov. 30. More than 1.8 million home buyers will have used the credit by the end of November, including an estimated 355,000 who wouldn’t have bought a home without it, according to the National Association of REALTORS® and other analysts.Mark Zandi, chief economist for MoodysEconomy.com, is among those in favor of extending the credit. Zandi would also make it available to all homebuyers. "The most fundamental argument for the credit is that nothing works in the economy if housing is falling," Zandi said. "[The credit] is a good insurance policy. It's vital to stem the housing price declines."Opponents argue that the tax credit is too expensive and doesn’t help enough people. Extending the credit through the end of 2010 and making it available to single filers earning up to $150,000 and joint filers earning up to $300,000 would cost an estimated $16.7 million. Some in Congress propose using unspent money from the $787 billion stimulus bill to pay for it.

Source: CNNMoney.com, Les Christie (10/14/2009)