**NAR ARIZONA CALL TO ACTION**

Early next week the U.S. Senate will be voting on an amendment that would extend the first-time homebuyer tax credit.  NAR is supporting the Dodd-Lieberman-Isakson amendment because this amendment will:

--Provide the $8,000 tax credit to any buyer (not just first time).

--Set income limits at $150,000/$300,000 for single/married buyers.

--Make the credit available until June 30, 2010.

NAR is asking for your help in generating phone calls from Arizona REALTORS to the offices of Senator McCain and Senator Kyl  in Washington, DC. 

Please request to speak to each Senator's Tax Legislative Assistant and ask them to support the Dodd-Lieberman-Isakson amendment. We need to generate as many calls as possible extremely quickly.  Below are the phone numbers for our Senators.

Senator McCain:   202-224-2235

Senator Kyl:       202-224-4521

The talking points are as follows:

NAR Legislative Talking Points
Dodd-Lieberman-Isakson Amendment
$8,000 Homebuyer Tax Credit

The Issue
• Ask your Senator to support the Dodd/Lieberman/Isakson amendment by extending the $8,000 first time
homebuyer tax credit.

The Dodd/Lieberman/Isakson amendment would:
• Extend the tax credit to June 30, 2010
• Expand the credit by removing the firsttime homebuyer requirement
• Raise the income limits to $150,000 ($300,000 for joint returns)
• For purchases made in 2010, taxpayers are able to claim the credit on their 2009 income tax return
• Maintains that homebuyers do not have to repay the credit, provided the home remains their
main residence for 36 months after the purchase date
• The 36 month recapture provision is waived for a member of the Armed Forces on active duty
who has to move because of a military order.

Why it is needed:
• The housing market remains fragile.
The market has improved and prices have stabilized in many areas, but the market has not fully corrected. Retaining the credit sustains that recovery.

• The tax credit stimulated market activity.
The volume of housing sales has improved steadily every month since the credit was
enacted.
The credit pulled people from the sidelines and created some momentum that had been
absent.

• Home sales continue to stimulate economic activity.
The economy will never fully recover until housing markets fully recover. Thus, the
stimulus the credit provides is still needed. NAR estimates that every sale generates
approximately $60,000 of additional economic activity.