The Real Deal Miami

Senate proposes tax credit for homebuyers

February 05, 2009 10:15AM

The U.S. Senate voted yesterday to expand the economic stimulus plan
with tax credits for homebuyers of up to $15,000, which would cost
about $18.5 billion. The tax credit would give buyers 10 percent of
the price of a primary residence bought within one year, up to $15,000,
and is intended to stabilize plummeting home prices. A final Senate
vote on the stimulus plan could happen today.