New Stimulus Bill

To give you an update of the new stimulus bill they are trying to pass through congress.  Wednesday night, the Senate voted to include a $15,000 tax credit in the new stimulus plan, up from the previous figure of $7,500, in hopes of revitalizing the slumping housing market.  The proposal would allow a tax credit of 10% of the value of new or existing residences, up to a $15,000 limit.  The details are not yet known, but I'll be watching for more information that we can share with our clients.  The stimulus bill is still working its way through Congress after being voted on in the House last week.  I understand that the road back to economic prosperity must include shoring up the housing market - but a tax credit may not help someone who is worried about keeping his/her job.  We are looking for this stimulus package to do something special to create jobs, thereby providing the much needed boost in consumer confidence to get people thinking about investing in a home.  Food for thought.