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The Bottom Line: Pressure to Extend Expiring Stimulus Provisions Likely

Recently, Senate Majority Leader Harry Reid announced his support for the extension of the First-time Homebuyer Tax Credit by signing on as a cosponsor to a new bill that would extend the existing credit for 6 more months. “[Yesterday] we learned that new home sales have increased in Las Vegas, and that’s good news,” he explained. “I hope this credit will build on that so more Nevadans can realize the American dream of homeownership.”...