Lawmakers extend the $8,000 tax credit -, South Georgia News, Weather, Sports

Lawmakers extend the $8,000 tax credit

By Wainwright Jeffers - bio | email

ALBANY, GA (WALB) - On Wednesday the Senate passed a bill to expand unemployment benefits and a homebuyers tax credit program.

Lawmakers extended the $8,000 tax credit for first time homebuyers through June.

They also created a $6,500 credit for current owners who buy a new home.

The credit has already helped more than a million people buy homes.

"Extending it to next April, which this bill does allows the American housing market and first time home buyers to take taxes they pay convert it to equity and help stimulat what is the rock solid base of the American economy," said Sen. Johnny Isakson, (R) Georgia.

The bill also extends unemployment benefits by 14 weeks in all states and 20 weeks in state's with high unemployment, including Georgia.

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