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S. 3364 First-Time HomeBuyer Credit Act of 2018

Published on August 30, 2018
S. 3364 First-Time HomeBuyer Credit Act of 2018

Senate Finance Committee Ranking Member Wyden (D-OR) introduced the First-Time Homebuyer Credit Act of 2018, S. 3364, which would create a refundable first-time homebuyer tax credit equal to 2.5 percent of the home purchase price up a maximum of $10,000. The credit would phase out for homes selling for $600,000 to $700,000. The credit would also phase out for individual taxpayers with incomes between $80,000 and $100,000 and joint taxpayers with incomes between $160,000 and $180,000.

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