Corporations won’t welcome tax credit

While potential homebuyers and brokers (perhaps not New York or Connecticut brokers, but elsewhere) can rejoice in the Senate’s approval of a homebuyer tax credit extension, multi-national corporations won’t be any time soon. The Wall Street Journal’s John McKinnon said that the tax break legislation, set to move onto the House for a vote, would negate some benefits large companies were hoping would come their way, in order to accommodate the extra cost of extending and expanding the homebuyer incentive. “To pay for this legislation the bill… cancels a tax break that multi-national corporations were counting on and that’s a sign of things to come,” McKinnon said.