Political Quotes

“Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 5623) to amend the Internal Revenue Code of 1986 to extend the homebuyer tax credit for the purchase of a principal residence before October 1, 2010, in the case of a written binding contract entered into with respect to such principal residence before May 1, 2010, and for other purposes, as amended. The Clerk read the title of the bill. The text of the bill is as follows: H.R. 5623 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Homebuyer Assistance and Improvement Act of 2010''. SEC. 2. EXTENSION OF HOMEBUYER CREDIT FOR CERTAIN PURCHASES PURSUANT TO BINDING CONTRACTS. (a) In General.--Paragraph (2) of section 36(h) of the Internal Revenue Code of 1986 is amended by striking ``paragraph (1) shall be applied by substituting `July 1, 2010' '' and inserting ``and who purchases such residence before October 1, 2010, paragraph (1) shall be applied by substituting `October 1, 2010' ''. (b) Conforming Amendment.--Subparagraph (B) of section 36(h)(3) of such Code is amended by inserting ``, and for `October 1, 2010' '' after ``for `July 1, 2010' ''. (c) Effective Date.--The amendments made by this section shall apply to residences purchased after June 30, 2010. SEC. 3. APPLICATION OF BAD CHECKS PENALTY TO ELECTRONIC PAYMENTS.…”