Call it an early Valentines Day gift to American home owners and new car/truck buyers. The U.S. Senate voted to give a tax break of up to $15,000 to home buyers in hopes of revitalizing the housing industry. A further tax break was passed on to Americans who purchase new cars and or light trucks priced at $49,500 or less.
In this time of economic and fiscal distress, American consumers will surely welcome the relief of these tax breaks, as will the Real Estate Market and Auto Dealers/Manufactures. Of course, there was no mention of just how many people can afford and might take advantage of these tax breaks, but compared to the usual Valentines Day gifts of cards and chocolate, this gift couldn’t have been more timely for U.S. consumers.
Cash money saved on Real Estate and new vehicle purchases could find it’s way into paying down of debt -Mutual Fund Investment - or upgrading skills of unemployed workers.
…..Doug T
