Senate leaders of both parties and key Senate Finance Committee members and staff, and tax credit sponsors Dodd-Lieberman-Isakson have agreed on extending and expanding the housing tax credit.

However, there is no agreement on how to attach this tax credit to the pending Unemployment Insurance bill, or whether to offer the tax credit agreement on another bill, or whether to bring the agreement to the Senate floor and vote upon it as a separate, stand alone bill.

And after Senate action, the tax credit must go to the House of Representatives for action.

REALTORS® should keep responding to our Call For Action by calling and writing their members of congress to support the tax credit extension.

NAR will continue to update you as developments warrant.