Kerry, Santorum, team up again [View All]

[cestpaspossible]

The National Association of Realtors® praised U.S. Sens. Rick Santorum (R-Penn.), John Kerry (D-Mass.) and four other senators of both parties for introducing this week the Community Development Homeownership Tax Credit Act, S. 859, which would help as many as 50,000 families a year achieve the American dream of homeownership. Companion legislation known as the Renewing the Dream Tax Credit Act, H.R. 1549, was introduced in the House last week by Reps. Tom Reynolds (R-N.Y.) and Ben Cardin (D-Md.).

Modeled after the Low-Income Housing Tax Credit, the legislation is expected to generate nearly $2 billion in private investment annually for the construction and/or rehabilitation of approximately 50,000 homes for sale to lower-income families. The credit is also expected to produce 122,000 construction and related jobs, $4 billion in wages and $2 billion in federal, state and local tax revenue. The program would provide investors with a tax credit of up to 50 percent of the cost of developing each home.

The bill is similar to legislation that was introduced in both the House and Senate last session and gained the support of a bipartisan majority of Congress. The homeownership tax credit also enjoys the strong support of President Bush. NAR is part of a coalition of over 40 housing and community organizations that back the measure.
press release

I couldn't find a news report on this other than this NAR press release.

imho, no matter how evil the cosponsor, trying to get good legislation passed is a good thing. What do you think?