$15,000 Tax Credit

WASHINGTON – Wednesday evening the Senate voted to approve a tax credit of up to $15,000 for homebuyers to help aid the housing market.  The tax credit was adopted without dissent.  The proposal would allow for a tax credit of 10 percent of the value of all home purchases subject to a limit of $15,000. The current tax credit is for $7,500. The next 10 days could see the proposal watered down or even deleted as it makes it's way through Congress as part of the economic stimulus package.