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Gillibrand favors tax credit extension for first-time home buyers

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Local real estate professionals are praising a proposal in Congress to extend the $8,000 tax credit for first-time home buyers for another six months beyond its Dec. 1 expiration.

“It can do nothing but help,” Tom Stern, broker and sales manager for Doreen Ross Associates in Schenectady, said.

U.S. Sen. Kirsten Gillibrand announced Thursday she co-sponsored legislation to extend the federal stimulus program through May 2010. “These tax credits were the right step to ...

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