Tax Credit Extension Could Happen

October 27, 2009 by Heidi Franklin  

    

On Monday, Florida Democrat Sen. Bill Nelson told reporters that he thought that the extension would be approved. However both senators and representatives thought spending any more money on the stimulus effort also could stir up a hornets’ nest.

The proposal in the Senate that could happen has the following points:

• Extend the $8,000 credit through March 31, 2010
• Drop by $2,000 for each of the subsequent three quarters of 2010

The current tax credit expires on November 30th 2009.