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Hope alive for extension of tax credit deadline

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The National Association of Realtors hasn't given up hope that lawmakers will resurrect the National Flood Insurance Program and extend the deadline for closing on a home purchase to qualify for the homebuyer tax credit past June 30, although a bill that would have accomplished both those goals has become mired down in a Senate debate over deficit spending.The battle over HR 4213, the "American Jobs and Closing Tax Loopholes Act of 2010," has raged for eight weeks, with Senate Democrats failing Thursday to get the 60 votes needed to end debate and hold a vote.Republicans object to the bill, which would extend emergency benefits for millions of unemployed workers and tax breaks for businesses that are scheduled to expire, because of its potential impact to the national budget deficit.Although Democrats have pared the bill's spending provisions, the latest version of the bill would increase the deficit by $33.3 billion over the next 10 years, according to an analysis by the Con...