LINDA WERTHEIMER, Host: NPR's business news starts with tax credits for homebuyers.</s>LINDA WERTHEIMER, Host: An $8,000 tax credit for first-time homebuyers is part of the government's effort to boost the housing market. Many say it's working, but the credit expires at the end of November, so homebuyers are scrambling to find properties by then and lawmakers are calling for an extension of the deadline. One even wants to increase the tax credit to $15,000. Economists say the subsidy will spur several hundred thousand additional home sales this year. Critics say the subsidy is only speeding up purchases that would take place anyway, and extending the credit would add to the cost for taxpayers.
An $8,000 tax credit for first-time home buyers is part of the government's effort to boost the housing market. It is set to expire in November so homebuyers are scrambling to find properties by then. Some lawmakers are calling for an extension to the deadline. Critics say the subsidy is only speeding up purchases that would take place anyway.