At Tuesday's hearing on the state of housing markets Oregon Senator Merkley asked whether the Administration supports use of a homeowner tax CREDIT (instead of the current non refundable DEDUCTION that does not benefit lower income homeowners).
Secretary Donovan reminds Merkely of Obama's support for that idea during the campaign last year and says he will work with Merkley on the idea. (NOTE: This kind of an ongoing tax credit is different than the current ONE time first time home buyer tax credit, although that credit IS a refundable credit where the family gets cash back if they have no net tax liability).
Check out exchange in YouTube video I constructed below:
(A direct URL to this question and answer exchange on YouTube is HERE).
If you want to watch the entire 2 hour, 50 Minute hearing it's in the C-SPAN library HERE.
Originally created and posted on the Oregon Housing Blog.
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