The Senate voted on and passed their version of the 2009 stimulus bill today, but that doesn’t mean homebuyers who stand to receive a tax credit of up to $15,000 should start celebrating yet. The Senate’s version of the bill is somewhat different from the House’s version. For example, the $15,000 credit for all homebuyers does not even exist in the bill that passed the House.
So now, a selection of mostly Democrats from the Senate will meet with the House of Representatives. They will confer and try to hash out a version of the bill that strikes a compromise between both versions. I would expect that some aspects that have been removed from the Senate’s bill, like funding for improvements to K-12 and higher education facilities, to be added back into the final reconciled bill.
The outcome remains to be seen. We won’t know what is included until senators and representatives work out their differences.
Update: The Senate and House of Representatives have both passed the compromise version of the stimulus bill. Read the complete stimulus bill here, and you’ll be a step ahead of many of the congressmen who didn’t have a chance to read it before voting.
Updated February 18, 2009 and originally published February 10, 2009. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.