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What is a tax credit?as in the $7500.00 tax credit with the new housing bill?

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What is a tax credit?as in the $7500.00 tax credit with the new housing bill?

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  1. From a web search:

    "Give about $15 billion in housing tax breaks, including a credit of up to $7,500 for first-time homebuyers who bought homes between April 9, 2008, and July 1, 2009."

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