Will a tax credit for first-time homebuyers be available in 2021?
To keep a campaign promise, the President called on Congress to pass a tax credit for first-time homebuyers and two House members have answered the call.
JOE RAEDLE
AFP
Two House representatives, Earl Blumenauer (D-OR) and Rep. Jimmy Panetta (D-CA), have followed the President’s lead and introduced a bill that would provide first-time homebuyers with a tax credit valued at 10% of the property’s purchase value, up to $15,000.
Rep. Blumenauer stated that the legislation would help those who have been historically shut out of the housing market as prices and demand continue to rise to unprecedented levels. The act would target low and middle-income families in the United States, particularly families of color, and would who have been subjected to decades of discriminatory and racist “housing policies that have left massive wealth, homeownership, and opportunity gaps between white communities and communities of
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