Senate votes to renew tax credit for first-time home buyers with a new twist!

Well I think we all new that this administration was going to extend the first time homebuyers tax credit. Senate voted 98-0. It's off to the house.

I for one think it is a good thing compared to the $200 million they increased our deficit to bail out the banks and did not do a thing for "Joe the plumber" (remember him)?. For a fraction of that cost the new home buyers tax credit will be stimulating the economy by putting a lot of sub-contractors that are in dire situations back to work. Deck installers, home improvement contractors, electricians etc. I am sure that we all have a relative or friend in that position. So this is really a win win for a lot of folks.

The new twist that is really going to stimulate the market/economy is the addition of a new credit program that would also enable many homeowners who buy a new primary residence a $6500 refund.