First-Time Homebuyer Tax Credit Extension

Yesterday, October 8, 2009, the U.S. House of Representatives voted to extend the tax credit for another year to American Service Members. The extension is for those who have been serving overseas and have not been able to take advantage of the tax credit like those of us living here.

The vote was 416 to 0 in favor to pass the Service Members Home Ownership Tax Act of 2009. This extension will push the deadline back an additional year for those members of the military, Foreign Service, and intelligence corps. Rep. Charles Rangel, New York Democrat, introduced the bill and said, "This bill makes sure that the brave men and women who put their lives on the line every day get to enjoy the same benefits as every other American who benefits from their service."

This is a great plan for those service members who have been overseas serving our country and ensuring the continued right of home ownership. Now it needs to pass the Senate and have the President sign off on it. I am sure they will but I still am anxious to see them pass an extension to ALL home buyers.