Aaronshaw127's Blog
A look into
First-time Homebuyer Tax Credit
For those that are wondering about the First Time Homebuyer Tax Credit here is a response from Senator Isakson.
Dear Mr. Shaw:
I have worked with Senate leadership to extend and expand the current first-time home buyer tax credit, which was set to expire on November 30, 2009. This legislation, which passed the Senate on Wednesday, will extend the current $8,000 first-time homebuyer tax credit, as well as establish a new $6,500 tax credit for “move-up” buyers so long as the home they are leaving has been used as a principal residence for five years or more. Both the $8,000 first-time home buyer credit as well as the $6,500 credit for “move-up” buyers will sunset on April 30, 2010. However, individuals who have contracts to buy a home as of April 30, 2010, will still qualify for the credit so long as they complete the transaction within 60 days. Tax credits such as this only work by creating the sense of urgency to take advantage of them, bringing people back to the marketplace. So this is a unique opportunity because this is the final extension of this tax credit. Congress will not continue this tax credit past April 30, 2010.
I am pleased the new home buyer tax credit contains strong anti-fraud language that gives the IRS the authority to do greater oversight during the processing of the return rather than waiting for an audit situation and requires the taxpayer claiming the credit to be 18 or older. Another new provision is designed to help our brave men and women of the Armed Forces. The legislation states that home buyers would not have to repay the credit, provided the home remains their principal residence for three years after the purchase date. However, this would not apply in the case of a member of the Armed Forces, military intelligence or Foreign Service who is on extended duty. In addition, members of the military who have been deployed overseas for 90 days or more in 2008 or 2009 would have until April 30, 2011, to claim the home buyer tax credit.
Additionally, I realize cost is a great concern as our nation faces unprecedented debt levels. During negotiations on this tax credit, I insisted that the extension and expansion be paid for so that it will not add to our debt.
I believe home sales not only stabilize the housing market, they boost our overall economy. Research shows each home sale has a positive economic impact on our overall economy. By restoring Americans’ equity in their homes, we increase American consumer confidence and optimism. I believe this tax credit will swiftly help our economy get back on track.
Sincerely,
Johnny Isakson
United States Senator
Warriors advance to 2-6 on the season after homecoming
In a defensive homecoming game against the Builders of Newport News Apprentice the warriors struggled to bring in its second win on the season 17-14. The most haunting statistic about the game is the fact that the warriors only ran 53 offensive plays to accumulate a total of 243 yards, in which 69 of them were in the ground. The game seemed to run off of penalties against the warriors that drove the warriors to rely on the tactics of hard nose grind-iron football, a tactics that only could be drawn up by the defensive expertise in that of head coach Kelly Scott. It’s what he is known for.
Although, quarterback Torrence Moise was forced to rely on his rushing and scrambling ability to keep first downs coming, which the warriors were held to only 11, as the freshman quarterback seemed to improve on his passing game as he threw for 22 attempts and landed 17 for 174 yards and 1 touchdown. Moise averaged 10.2 yards a completion on the game as the warriors improved to 2-6.
For a team that had 12 penalties for 94 yards in it’s home coming game this past Saturday the warriors seemed to stay poised under the command of freshman quarterback Moise who now has about 1212 yards passing on the season thus far with two games left on the season.
0-7 and a much needed bye week for Tampa
This week the Buccaneers have a much needed Bye week to settle some of thier fustrations out on prior game film and to extend the review of the up-coming game against the Green Bay Packers in the battle of the Bays game.
There is rumors going around that intel the Bucs resorting to full-padded practices and an extensive emphasis on fundamentals as rookie quarterback Josh Freeman is expected to take the regiens and promote the struggling offense of the team as of now. Lets just hope than during the off time the Bucs have that some good come out of One Bucs Place and that much needed win is placed in the winners bracket for them finally this season as the mid-point is near.
Homeownership Zone as an Affordable Assumption
At a point in time were the struggles of this nation have called for the working class as well as middle classed Americans to explore the potentials of affordable living practices. The uncertainty of housing as a concern has become a major issue of now as the affects of the recent foreclosure crisis and unemployment increases made the average assumption of financial conditions to bringing even middle class Americans to considering the 30 percent mean illustrated as a condition of affordable conditions.
The generally accepted definition of affordability is for a household to pay no more than 30 percent of its annual income on housing.
An estimated 12 million renter and homeowner households now pay more then 50 percent of their annual incomes for housing, and a family with one full-time worker earning the minimum wage cannot afford the local fair-market rent for a two-bedroom apartment anywhere in the United States. The lack of affordable housing is a significant hardship for low-income households preventing them from meeting their other basic needs, such as nutrition and healthcare, or saving for their future and that of their families. As the current times consider, low-incomed has hit an all time high as applications for newly funded programs are drawing record numbers of families seeking these options as money has become tighter than ever.
As funding concerns are being handled as of now as the economic worries of this nation come to the front of families trying to maintain other programs and options are being considered. We can not continue to afford to maintain ourselves as the cost of living and living standards are continually changing as the economic conditions of this nation are being tested as of now. The continual placement of affordable programs are needed to allow the people of this nation to continue under the assumption of living life with-out the changes made towards financial conditions as of now. This nation has not made adequate progress toward the goal of national housing
policy, as set out in the Housing Act of 1949. The supply of affordable rental housing is diminishing as the demand is ever rising.
To achieve the goal of national housing policy, there is a need to strengthen nationwide a cost-effective community-based housing partnership designed to expand the supply of rental housing that is affordable to very low-income and
low-income families, improve homeownership opportunities for low-income families.
The Home Program helps to expand the supply of decent, affordable housing for low- and very low-income families by providing grants to States and local governments called participating jurisdictions or “PJs”. PJs use their HOME grants to fund housing programs that meet local needs and priorities. HOME is the largest Federal block grant to State and local governments designed exclusively to create affordable housing for low-income households. Each year it allocates approximately $2 billion among the States and hundreds of localities nationwide.
Warrior Homecoming Against New Port News Apprentice
What can be expected this weekend as the Webber Warriors take on the Newport News Apprentice Program, well you can expect to see more of Freshman QB Torrance Moise as he tries to claim a homecoming win this weekend. So far he has 1138 passing yards in which he averages about 189 yards a game. You can also expect to see Taylor Atwood who under the current offense has slow starts in game in which he faces bigger opponents, but, when facing equally sized schools, the warriors rushing game is stated to be attestable. In the last two games against NAIA schools the warriors put up over 500 yards on the ground in an efficient manner. Hopefully there will be no troubles moving the ball down the field and scoring as the warriors try to claim its second victory on the season and at home.
Leaving the fundamentals of the game to being handled by the struggling defense of the Warriors. A defense that does have potential but not the adequate stability to handle the pressures of small dominate forces. Although being small themselves the warriors could handle what’s thrown at them as the team has 8 total interceptions on the season, however, as a young unit, they leave the passing lanes open for big gains and large threats downfield. Not having very many vet or seasoned players on the team is what has been hurting this program as of now as they try to adjust to having a team in the first place as the warriors are in their fifth season of play as a competitive N.A.I.A program allowing them to make the mistakes of going 1-5 on the season thus far but not to give up hopes of claiming another win.
Why won’t New York Target Federal Housing Aid to the Homeless
While searching for information on preventative measures of homelessness I came across some information that would have Orlando residents flaming hot over some of the actions New York City mayor has done to make it even tougher for the homeless to attain suitable affordable housing. As if homeless people through-out the city of New York do not deserve to be included in the same voucher programs that allow the usage of Section 8 for the purpose of assisting those that are low-incomed. At a time in which ones economic status could be that access point in getting the much needed attention to assist the living conditions some families are currently facing, homeless people in the state of New York have been excluded from the federal assumption of funding aimed to assist the low-incomed.
“An extensive body of careful research has demonstrated that housing vouchers are critically important both for preventing families with children from becoming homeless and for helping those who do enter the shelter system to leave it for permanent housing and not become homeless again….For families who do become homeless, housing vouchers are an extensively tested and demonstrably effective tool for moving to permanent housing and remaining stably housed.” – Jill Khadduri (2008), Abt Associates and former senior HUD official, research review prepared for Homelessness Research Institute
Beginning in 2005, the Bloomberg administration dramatically changed 20 years of City policy – cutting off homeless from priority for Federal housing programs including Section 8 vouchers and public housing. Currently, Homeless policies are taking new light as the definition homelessness is under fire. Anyone without their own housing is stated to being homeless under the current assumption of the term. An assumption that under certain city, municipality, metropolitan standards does not included affordable housing efforts to expand to include transitional efforts of those that are homeless seeking affordable housing measures.
“Formerly homeless families are generally quite similar to other low-income families. Homelessness for most is not a protracted experience, and housing subsidies alone are sufficient to allow the vast majority to leave shelter and maintain stable housing in the community.” – Marybeth Shinn (2009), Vanderbilt University, research review prepared for
Enterprise Foundation and the National Alliance to End Homelessness.
Why? How could the Mayor come in and just rearrange the way the low-incomed and homeless had been provided assistance through-out a city that thrives on the popularity and extremes take to bring forth the attention of poverished and homeless residents in need? Those that are in need and are currently homeless has risen since the action had been suggested and made and since more and more people are turning out to seek the potentials of shelters. Subsidized housing succeeds in curing homelessness among families, regardless of behavioral disorders or other conditions. No wonder the homeless that were offered those free plane tickets over the summer were so anxious to leave the state this summer, there is absolutely no help for those that are homeless in the city of New York. Man!
Something has to be done about this issue. Between the rising shelter rates that are being witnessed through-out the city as well as the 30 to 40 percent of homeless people that are not eligible for low-income housing something has to be done to express a universal assumption of low-income housing. Federal housing programs are a proven, cost-effective way of reducing family homelessness. The act of targeting Federal housing aid to homeless families will reduce the family shelter population and save City and State taxpayer dollars – a high priority given the fiscal crisis.
Magic first seasonal game is Wednesday October 28
As though I might have forgotten, the Orlando Magic had a terrific preseason run to open the season with, finishing with a perfect 7-0 record. As if the fact that they lost in the finals against the Lakers wasn’t enough motivation for them to improve on, the Magic have proven that this season they will be the Eastern Conference team to beat this season.
