Washington- Rep. Joe Pitts (PA-16) supports extension of the first time home buyer tax credit that is currently set to expire November 30, 2009. The $8,000 credit was contained in the stimulus act passed earlier this year.

Rep. Pitts statement follows:

“Home prices and demand for new houses continue to stagnate, holding back our economy. The home buyer tax credit provides a needed to stimulus to an industry that has been hit especially hard in this recession.

“The tax credit has helped many families purchase their first home and many more are busy saving for a down payment right now. An extension will give confidence to buyers, sellers, and home builders who are worried that the credit will expire before they can complete a sale.” 

###