Tax credit expansion?

June 22, 2009 4:48:13 PM PDT
Lawmakers and businesses are calling for expansion of a tax credit for first-time home buyers.The tax credit is scheduled to expire in the fall and is now capped at $8,000. But some business groups say the cap should be raised to $15,000 and be applied to anyone who buys a home.

The tax credit sparked home sales in an otherwise dismal real estate market. First-time buyers make up a hefty 40-percent of home purchases right now.

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