Wednesday, February 11, 2009

Mini-Update on Stim Bill and $15k Homebuyers' Tax Credit

3:35 PM Phoenix time, update

Head on over to our broker's website, www.ThePhoenixRealEstateGuy.com on this link to see the newest update, which is that the $15,000 tax credit for homebuyers has been stripped out of the version of the stimulus bill that emerged from Congressional Conference Committee this afternoon.

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9:00 AM Phoenix time:

The Senate and House leaders met late into the night last night to begin working out the differences between the House & Senate versions of the stimulus bill. From the New York Times:

". . . the White House chief of staff, Rahm Emanuel, and the budget director, Peter R. Orszag, huddled at the Capitol on Tuesday evening with Speaker Nancy Pelosi; the Senate majority leader, Harry Reid of Nevada; and other lawmakers. . . "



Media reports this morning say the crew met until about 11:30pm on Monday night,

". . . .with Mr. Reid shuttling between meetings with senators in his office and House leaders in Ms. Pelosi’s suite. '



That cracks me up! What? They don't have speaker phones in the Congressional offices? Maybe that's why it's so darn hard to get anything done in Washington. They've all got to run over to each other's offices to speak to each other. <snerk>

Senator Reid's official word last night was that they're trying to trim the entire package down to about the  $800 billion mark. He told reporters they'd made "a significant amount of progress" in the roughly 10 hours of meetings on Monday afternoon and evening.

No specific word on the homebuyer's $15,000 tax credit, but I'm pretty certain it'll stay in there. More info as I dig it up.