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Stock Futures Lower Before Jobless Claims and Productivity Data
The US Senate OK’d an extension of the first-time home-buyer tax credit that was to expire at the end of this month. The incentive will now expire six months into 2010. In addition, the program will allow homeowners who have lived in their current home for more than five years to receive a $6,500 tax credit to purchase a new primary residence.rnrnThe Senate bill also includes an extension of unemployment benefits for states with jobless rates of 8.5% or higher. In those states, individuals will be eligible for an additional 20 weeks of benefits.rn
Senate Approves Homebuyer Tax Credit Extension
The Senate today voted unanimously Wednesday night to extend the $8,000 tax credit for home buyers beyond its scheduled November 30, 2009 expiration date. The credit would be available until April 30, 2010. Under the new legislation the credit will also now apply to home buyers who are buying their second or subsequent home. The credit currently applies only to first time home buyer.
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