Senate Democrats

Reid Leads Passage Of Amendment To Extend First-Time Homebuyer Tax Credit Closing Deadline

Washington, DCNevada Senator Harry Reid released the following statement today after the Senate passed an amendment, sponsored by Senator Reid, to extend the closing deadline for homebuyers who qualified for the first-time homebuyer tax credit by the April 30th deadline:
“Now, more than ever, we need to ensure that families in Nevada and across America have the ability to own a home.  The first-time homebuyer tax credit was an extremely popular and successful program that has helped Americans purchase homes and given a boost our economy.  Because of this program’s popularity and the time it takes to complete transactions such as short sales, I led the effort today to extend the closing deadline for this tax credit through September of this year — allowing lenders more time to clear a backlog of 180,000 potential homebuyers nationwide.  The amendment we passed today ensures that more Nevadans can experience the American Dream of homeownership.
“While I am disappointed that more Republicans did not support this common-sense measure to strengthen the economy and reduce the deficit, I am committed to ensuring that more Nevadans and Americans can become homeowners and that this amendment becomes law.”