Looks like parts of the Senate are still trying to extend the deadline for the home buyer tax credit closing date, by attaching it to the unemployment benefits bill affecting hundreds of thousands of laid-off Americans
The plan is to create one bill that combines the unemployment benefits with an extension of a popular tax credit for people who buy new homes.
Under current law home buyers who signed purchase agreements by April 30 must close on their new homes by today to qualify for credits of up to $8,000. The bill would extend that date until Sept. 30 to complete the purchases, close on the homes and qualify for the credit.
Democrats hope to pick up Republican support for the bill by combining the two provisions. They have been trying for weeks to pass an extension of unemployment benefits as part of a larger tax and spending package, but the larger bill died in the Senate last week.
Without an extension unemployment payments would continue to be phased out for more than 200,000 people a week.
Senate Majority Leader Harry Reid filed a motion Tuesday to end debate on the bill and force a vote by tomorrow.
The House passed a separate bill Tuesday to extend the deadline for the home buyer tax credit.
It is estimated that the closing date extension would benefit over 180,000 home buyers who are still trying to close on homes they entered purchase agreements on before the April 30th deadline.
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