Recently I wrote to Chuck Schumer and Senator Gilliabrand to extend the credit and this is what I received back from them.
KEEP WRITING TO EXTEND THE CREDIT!
Dear Ms. Beaudoin:Thank you for expressing your support for the first time homebuyer tax credit. This tax credit plays a significant role in the revitalization of the housing market by providing individuals with a financial incentive to purchase a home. In doing so, homebuyer interest and housing sales have increased exponentially, which has spurred activity and growth in housing markets that might otherwise be stalled given the current economic climate.I supported the first time homebuyer tax credit as a provision included in the Housing and Economic Recovery Act that passed in the 110th Congress. This provision provided a refundable tax credit of up to $7,500 intended for first-time homebuyers, or individuals who have not purchased a principal residence within three years before buying a new property, and have bought a home after April, 2008 and before December, 2009.
This credit, with my support, was then expanded in the American Recovery and Reinvestment Act (ARRA) that passed last February to provide first time homebuyers with a credit of up to $8,000 towards the purchase of a primary residence. ARRA also changes the recapture requirement originally included in this credit so eligible homebuyers who purchase their home in 2009 do not have to pay back the amount of the credit, so long as the taxpayer remains in this property for three years.
I continue to believe that the first time homebuyer tax credit plays a significant role in the housing market by making homeownership an appealing and accessible possibility for individuals and consequentially increasing consumer demand.
Again, thank you for contacting me on this important issue. Please do not hesitate to contact me again if I can be of further assistance on this, or any other matter.
Sincerely,
Charles E. Schumer
United States Senator
Please do not respond to this email. To send another message please visit my website at http://schumer.senate.gov/SchumerWebsite/contact/webform.cfm . Thank you.=
October 15, 2009
Dear Ms. Beaudoin:
Thank you for contacting me supporting the Community Restoration and Revitalization Act. Your thoughts and concerns are very important and I appreciate you taking the time to share them with me. Please know that as I participate in discussions on the issues before the United States Senate, the thoughts and the opinions of all my New York constituents are given careful consideration.
Thank you again for taking the time to contact me. Please visit http://gillibrand.senate.gov and sign up for my e-newsletter for updates on this, and other important issues being considered by the Senate.
Sincerely yours,Kirsten Gillibrand
United States Senator
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