November 11, 2009

 

JOHNSON CITY-- Southern Tier Congressman Maurice Hinchey is touting a program he says will help rebuild the national economy and in the Southern Tier.
     He voted in favor of extending and expanding the home buyer tax credit program, which President Obama signed last week.
     “it will benefit all these counties in the southern tier because there are a lot of people here who are eligible to take advantage of this.
     A lot first-time buyers have already taken advantage and Congressman Hinchey is sure more is on the way.
     The president-elect of the Greater Binghamton Association of Realtors, John Farrell, says he's anticipating the surge.
     “Not only can people buy their first house but people in their first house can move up to the new house they may need,”  Farrell said.
     Hinchey voted in favor of extending the $8,000 credit for first-time buyers and an expanded $6,500 credit for homebuyers who have been at their current home for at least five years, but some might say programs like these are adding to the federal debt.
     Hinchey says that's not the case at all.
     “Regardless of how much you invest you get back more over that investment. for every dollar you invest internally within the needs of this country, you get more than a dollar back and in many cases its substantially more than a dollar back,” Hinchey said.
     Hinchey says it's a good attempt to stimulate the housing market and the economy.
     “After you buy a house you go out and buy furniture, you buy rugs. etc. etc,” Farrell added.
     For more on the program, head to our website,