[Congressional Record Volume 155, Number 149 (Thursday, October 15, 2009)]
[House]
[Pages H11386-H11387]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




              EXPAND TAX CREDIT FOR FIRST-TIME HOMEBUYERS

  (Mr. MITCHELL asked and was given permission to address the House for 
1 minute.)
  Mr. MITCHELL. Madam Speaker, I rise today on behalf of thousands of 
constituents in my district who are still struggling to cope with the 
housing crisis.
  Arizona consistently ranks among the Nation's top three States in 
foreclosures. As a former mayor and a homeowner, I recognize the 
negative impact foreclosures have on home values and neighborhoods.

[[Page H11387]]

  Earlier this year, as part of the American Reinvestment and Recovery 
Act, we took an important step forward. We passed a temporary $8,000 
tax credit for first-time homebuyers.
  The good news is that tax credit has worked. Closer to home, in the 
Phoenix metropolitan area, according to at least one recent survey, 
home sales have reached 9,614 in June, up 11 percent from May.
  However, I believe we need to expand this credit to make it available 
to any American who wants to buy a home, not just first-time 
homebuyers. As the expiration of the current homebuyer tax credit 
approaches, I want to encourage my colleagues to consider supporting 
legislation to expand and extend the homebuyer tax credit.

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