Senators call for homebuyer tax credit extension

Late last week, U.S. Sen. Benjamin L. Cardin, along with Senators John Ensign, Harry Reid, Johnny Isakson and Debbie Stabenow, introduced a six-month extension of the $8,000 federal tax credit for first-time homebuyers. The current provision, passed as part of the American Recovery and Reinvestment Act, expires Dec. 1, 2009. According to the most recent Treasury Department data, nearly 530,000 Americans have applied for the tax cut to help them purchase their first home. About 40 percent of all home buyers this year will be eligible for the tax credit.
“The ripple effect has been profound, injecting tens of billions of dollars into our national, state and local economies to help stabilize communities and create jobs,” Cardin said. “But there is more to be done. While we look for additional ways to help the housing industry, a six-month extension is a fiscally responsible way to provide adequate time to nudge even more prospective home buyers off the sidelines and closer to owning their part of the American Dream.”
Does that have any impact on the green industry? If your retail customers are marketing to new homeowners, I’d say yes. Visit the NMPro Forum and give your opinion.