President Barack Obama will be making his first trip as President to Arizona this week to hear about the Phoenix Area foreclosure market up close and personal. The President is scheduled to tour an unspecified Mesa neighborhood that has been hit hard by the foreclosure crisis before heading to Dobson High School to deliver a speech on the subject.
One suggestion to help the foreclosure market proposed by U.S. Senator Johnny Isakson (R-GA.) was a $15,000 tax credit for all homebuyers who purchase a primary resideance over the next year. That tax credit was cut down to $8,000 and included in the stimulus bill signed by Obama today.
That does not mean the $15,000 credit is dead though. Isakson told a Georgia radion station today he intended to bring the bill back up next week after legislators returned from recess. The new version would not be an amendment, but a stand-alone bill and believed he had the votes to get it through both the Senate and the House. After placing a call into Isakson’s office they did verify the Senator is considering putting the bill in after recess, but has not done so yet.
If you support this idea to give the housing market the boost it needs contact Isakson’s office and encourage them to move forward with the measure.