Rangel, Pelosi Comment about Tax Credit Extension
At a press conference on October 8, House Speaker Pelosi (D-CA) responded favorably when asked about the likelihood of extending the first-time homebuyer tax credit. When asked about the possibility of further housing legislation, she responded "Yes, there is under consideration whether we extend the first time homeowners credit. And the question is, would that be just first time homeowners or would you open it up to other purchasers of homes?" She shed no further light on whether the credit would be expanded, but did note that the cost of an expansion would be the major consideration in the decision process. When asked for comment, Bloomberg Wire Services reports that Chairman Rangel (D-NY) said, "There's no question that I think it should be extended; for how long, we should discuss." As yet, no formal action has been announced.
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