Provide a Homeowners Tax Credit

President Obama made the following promise:

"We'll provide struggling homeowners some relief by giving them a tax credit that would cover 10 percent of a family's mortgage-interest payment every year." — 1/29/08, El Dorado, Kan.

Other promises regarding taxes.


Updated: February 11, 2009

Stimulus Bill Includes First-Time Homebuyer Tax Credit

The stimulus compromise includes an $8,000 tax credit for first-time homebuyers who purchased between Jan. 1 and Aug. 31 of this year. The current credit is $7,500. The Senate initially proposed a credit of $15,000.

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