Housing Tax Breaks

Yesterday’s New York Times has an article on the proposed housing and other tax breaks under the proposed stimulus plan; for homes purchased after April 9, 2008 and before July 1, 2009, “first time homebuyer” couples can receive up to $7,500 tax credit. “First Time Homebuyers” are defined broadly; there are phase outs for higher income categories.

All of this is subject to change, of course, as the House and Senate work to reconcile their bills.

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