Norton's Tax Credits for Homebuyers, Job Seekers, & Businesses Pass the Senate Today

Norton's Tax Credits for Homebuyers, Job Seekers, and Businesses Pass the Senate Today

March 10, 2010

WASHINGTON, DC - Congresswoman Eleanor Holmes Norton (D-DC) greeted with relief today Senate passage of the Tax Extenders Act, H.R. 4213, including provisions extending through 2010 her popular $5,000 homebuyer tax credit, as the federal homebuyer tax credit is set to expire on April 30, and her small business tax incentives, including her $3,000 wage credit for each D.C. resident hired or already on board at eligible businesses. Norton's homebuyer credit was the model for the $8,000 stimulus homebuyers credit.

"Incentives for businesses to hire and for renters to buy are particularly crucial today," Norton said. "These tax incentive extensions come just in time as the District grapples with 12 percent unemployment. Small businesses are just as hard-pressed. The wage credit has a double effect by benefiting D.C. businesses and people looking for work, but the many other tax credits will be particularly useful to small and disadvantaged businesses here."