U.S. Treasury Secretary Tim Geithner and Department of Housing and Urban Development Secretary Shaun Donovan recently called on Congress to approve three proposed measures to improve housing markets and provide better housing options for Americans.
- Extend the First Time Homebuyers Tax Credit for a limited period. The Administration supports a limited extension of the First Time Homebuyers Tax Credit, which is currently set to expire on December 1.
- Extend higher loan limits for home mortgages. The Administration supports a one-year extension of the current loan limits for the Federal Housing Administration, Fannie Mae, and Freddie Mac, currently set to expire on December 31.
- Secure funding for the Housing Trust Fund. The Administration is committed to actively working with Congress to identify a specific budget offset to assure the Administration’s proposed level of financing for the Fund.
