U.S. Sen. Christopher Dodd says Senate Democrats have reached an agreement to extend an $8,000 tax credit for first-time homebuyers that was set to expire Nov. 30, according to Reuters. “We have that. Done,” says Dodd, D-Conn., chairman of the Senate Banking Committee. But U.S. Sen. Johnny Isakson, R-Ga., who supports extending the measure, says negotiations are still ongoing. Realtors have urged the tax credit be extended into 2010 in order to keep the fledgling housing recovery going. Dodd and Isakson want to extend the credit through June and open it to anyone buying a primary residence, reports Reuters. Senate Majority Leader Harry Reid backs a narrower version that would extend the credit into March, and gradually phase it out. Dodd told Reuters that the deal merges the two proposals.
Dodd says deal reached on homebuyer tax credit
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