BrokerageIndustry News

Senate could vote today to extend tax credit closing deadline

Options include standalone bill, legislation tied to jobless benefits
Published on Jun 30, 2010

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by CareyBot

House lawmakers on Tuesday passed a standalone bill, HR 5623, that would extend today's deadline for closing on a home purchase to Sept. 30, and a spokeswoman for Sen. Harry Reid, D-Nev., said the Senate could consider approval of that extension "as early as today."

"Sen. Reid ... said this morning on the floor that we are working to reach an agreement with Republicans to pass the House-passed homebuyer tax credit closing date extension by unanimous consent as early as today," said Reid spokeswoman Regan Lachapelle, in an e-mail to Inman News.

Separate legislation to extend the deadline for closing on a home purchase to claim the federal homebuyer tax credit remains tied to Senate legislation (HR 4213) that would extend unemployment benefits, though that