Oct3 Written by:David
10/3/2008 1:07 PM
The President today signed the landmark financial bailout bill that was passed by both Houses of Congress after a volatile week of political wrangling, jittery markets on Wall Street, and angry consumers around the country. The National Association of REALTORS®, in response to queries from members around the country, discusses its efforts to support the federal bailout - see "Why NAR Supports Government Intervention" at www.REALTOR.org.
REALTORS® are also urged to educate themselves about the details of the bailout package and what it means for you. This legislation seeks to addess key issues, including:
- Relief for homeowners and borrowners
- Tax relief provisions such as leashold improvement relief, brownfield improvements and relief for the Alternative Minimum Tax
- Get money quickly back into the financial system
- Oversight of the U.S. Treasury Department
- Fraud investigation and enforcement
- Give taxpayers a stake in potential profits
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