News Releases

Murray Votes to Extend Homebuyer Tax Credit for Washington State Families, Close Corporate Tax Loophole

Jun 16 2010

Benefit will continue providing boost to local housing market, offer families support they need to purchase homes

(Washington, D.C.) – Today, U.S. Senator Patty Murray voted to allow families in Washington state and across the country more time to qualify for the successful homebuyer tax credit. The amendment to the American Jobs and Closing Tax Loopholes Act extends the deadline to qualify for the $8,000 first-time homebuyer credit from June 30, 2010 to September 30, 2010. This amendment pays for itself by closing a corporate tax loophole that had allowed corporations to deduct punitive damages. The amendment passed 60-37.

“Extending the homebuyer tax credit will give more families in Washington state an opportunity to move into a home and will continue to provide a much needed boost to the local housing market.” said Senator Patty Murray. “This is a successful program that has already helped so many families across the state, and I was proud to vote to extend it.”

The homebuyer tax credit has been used by an estimated 58,000 Washington state families since 2009.