CARDIN, ENSIGN, REID, ISAKSON AND STABENOW CALL FOR A SIX-MONTH EXTENSION OF THE $8,000 FIRST-TIME HOMEBUYERS TAX CREDIT

Washington, DC – September 17, 2009 – (RealEstateRama) — U.S. Senator Benjamin L. Cardin (D-MD), last night, along with Senators John Ensign (R-NV), Harry Reid (D-NV), Johnny Isakson (R-GA) and Debbie Stabenow (D-MI) introduced a six-month extension of the popular $8,000 federal tax credit for first-time homebuyers. The current provision, passed as part of the American Recovery and Reinvestment Act, expires December 1, 2009. According to the most recent Treasury data, nearly 530,000 Americans have applied for the tax cut to help them purchase their first home. About 40 percent of all home buyers this year will be eligible for the tax credit.