Senate passes housing bill

April 10, 2008 12:14PM

The Senate has passed a bipartisan bill with a goal of stabilizing housing market and warding off the threat of foreclosures. The Senate plan, which the White House opposes, calls for big tax breaks for homebuilders and a $7,000 tax credit for homebuyers who purchase foreclosed properties. It also calls for $4 billion for communities to buy and repair vacant homes. 

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