Reuters reported today that Democratic Sen. Christopher Dodd, chairman of the Senate Banking Committee, said that senior Democrats in the Senate have agreed to extend the first time homebuyers tax credit, which is scheduled to expire on December 1.
Dodd has earlier indicated that he'd like to extend the credit through June 30, 2010 and expand it to include all buyers purchasing a primary residence. Senate Majority Leader Harry Reid has backed a version that would extend the full credit until the end of March and then phase it out through 2010.
No details were released but according to Dodd, the agreement reached would blend these two proposals.
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