Read
- Exclusive: Fidelity facing "thousands" hit by Facebook woes
- Facebook market makers' losses at least $100 million
|
- Protests planned after minister calls for gays to be fenced in
- Exclusive: China leadership rules Bo case isolated, limits purge: sources
- Spain region, Greek exit warnings rattle euro zone
UPDATE 1-US House votes to extend home credit for military
(Adds background, detail)
WASHINGTON Oct 8 (Reuters) - The U.S. House of Representatives on Thursday voted overwhelmingly to extend a first-time homebuyers' tax credit for overseas military members through Nov. 30, 2010.
The measure, which passed by a vote of 416 to 0, comes as Democrats are weighing whether to extend the $8,000 tax credit for all first-time homebuyers, which was enacted to combat the worst downturn since the Great Depression.
A broader expansion, however, would not necessarily win such widespread support.
President Barack Obama and Democratic leaders in Congress also are considering an extension of social safety-net programs, such as unemployment insurance, and spending for new construction programs to spur the economy and reverse a climb in the U.S. unemployment rate, which is now at a 26-year high.
But they face opposition from Republicans who say existing measures have added massively to the U.S. budget deficit and done little to jump-start growth. (Reporting by Andy Sullivan, editing by Leslie Adler)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints


Follow Reuters