A bill that would have extended unemployment benefits, as well as extended the closing date for the first time home buyer tax credit to September 30th, and extended a variety of other tax credits, failed to garner enough votes to defeat a Republican-led filibuster in the Senate yesterday.
The Democrats and Republicans failed to reach a consensus on this bill yet again, as lawmakers become increasingly concerned about deficit spending. Austerity is suddenly the watchword of the day, likely because of the debt issues that Europe is currently experiencing. These concerns about deficit spending seem to be selective, however.
The amendment to extend the closing date for the tax credit was approved by the Senate over a week ago, but the bill it is attached to seems increasingly unlikely to pass. Hopefully the extension can be passed as a stand-alone measure or attached to a less controversial bill.
As of this time, the closing date for the first time home buyer tax credit remains June 30th. If I learn anything new I will pass it along.
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