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SENATE PASSES HOUSING STIMULUS LEGISLATION

Thursday, April 10, 2008 - 7:30AM

The Senate today passed legislation intended to help reduce foreclosures and support the housing sector through new tax incentives by a vote of 84-12. H.R. 3221, the Foreclosure Prevention Act of 2008, was approved after legislators added an amendment to extend renewable energy tax credits. Unlike a separate package approved yesterday by the House Ways and Means Committee, the Senate’s housing stimulus package does not include any provisions related to the low-income housing tax credit (LIHTC).

To learn more about the different stimulus plans being considered in Congress, download the April 8 Novogradac Report on Tax Credits podcast.

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