Senate could vote today to extend tax credit closing deadline

Options include standalone bill, legislation tied to jobless benefits

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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 legislation will not likely come up for a vote until after the scheduled June 30 expiration of the tax credit’s closing deadline.