The Homebuyer Tax Credit has still not passed the Senate. The "cloture" vote that was taken yesterday in the US Senate and passed, was to end debate on the Senate version, and bring it to a vote within 30 hours. Senate amendment 2712 is a replacement in the form of an "amendment", as a substitute for the original House-introduced bill H.R. 3548.
The Senate may do another cloture vote tonight, giving them another 30 hours before vote. After it is passed in the Senate, the House will then have to vote on it, as it is being completely substituted for the original House-originated bill. Only then the President signs it into law.
It is pretty comical reading the Senate Journal sometimes. Yesterday, there were amendment after amendment introduced to change the effective date, starting with seven days after enactment, no six, no five, no four, no three, no two, no... one day after enactment. I'm not kidding.
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