Industry NewsMortgage

Tax-credit decision down to the wire

Isakson signs onto bill to extend, not expand, credit for first-time buyers
Published on Sep 18, 2009

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by CareyBot

Sen. Johnny Isakson -- a former real estate broker known for taking up industry causes -- has signed onto a bill that would extend, but not expand, the current $8,000 tax credit for first-time homebuyers, which is set to expire Nov. 30.

Isakson, a Georgia Republican, had previously introduced a bill that would more than double the tax credit's ceiling to $15,000, and expand the pool of those eligible to claim it by lifting first-time homebuyer and income restrictions.