Washington Post – The Senate voted Wednesday to renew the government’s $8,000 tax credit for first-time home buyers through the first six months of next year as part of a broader bill designed to extend unemployment benefits.
For the first time, the tax credit program would also enable many homeowners who buy a new primary residence to receive a $6,500 refund.
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Please click here to view the text of the bill passed by the Senate on April 29, 2010.
The FY2011 FMRs by state and area are HERE.
The full House of Representatives and the Senate Committee on Appropriations have approved bills that would provide adequate funding in 2011 to renew all Housing Choice (“Section 8”) vouchers used by low-income families this year, according to Center analysis. If final appropriations legislation were to fund the voucher program at the midpoint between the House and Senate bills, it would provide $19.3 billion for housing vouchers, including $17 billion for voucher renewals.
However, several proposals to reduce overall funding for nondefense discretionary programs in the final appropriations bills for fiscal year 2011 threaten cuts in voucher funding that could cause tens of thousands of low-income families to lose rental assistance.
To read the full report by the Center on Budget and Policy Priorities, click here.