Sen. Christopher J. Dodd (D-Conn.), chairman of the Senate Banking, Housing and Urban Affairs Committee and in a tight race for reelection next year, is co-sponsor of a bill with Georgia Republican Johnny Isakson [editor: S1230] that would raise the credit amount to a maximum of $15,000 [editor: any buyer, any home, no income cap]. Meanwhile, the Realtors and the builders are pushing not only for extension of the credit, but for broadening it to cover all home purchases in 2010.
Bills already are pending in both houses to extend the credit for another year. Senate Majority Leader Harry M. Reid (D-Nev.), whose state has been among the worst hit by the housing bust, reportedly now favors an extension of the credit. He was quoted to that effect by the Las Vegas Sun on Aug. 5, adding, “It’s something we can get done.”
