Johnny Isakson: “I rise for a second to talk about the financial services bill. I do want to say something in advance of that, and I am…”

“I rise for a second to talk about the financial services bill. I do want to say something in advance of that, and I am sorry Chairman Dodd is not on the floor. This Friday is the last day Americans can go under contract on the first-time homebuyer tax credit and the move-up tax credit. I had the privilege of working with the banking chairman on that legislation in the fall of last year--and its extension--and I felt a sense of reward today when the announcement came out that for the first time in 36 months home values in the 20 test markets in the United States actually went up by six-tenths of 1 percent. That is not a lot of money, but it is the first time in 36 months. The chairman created an environment to allow that debate to take place, and this Senate voted 100 to 0 to pass it and the American people have benefited from it. As I tell so many who call me, it is not going to be extended because credits such as that are designed to do what it has done; that is, to bring the marketplace back and hopefully stabilize values and move forward. I commend Senator Dodd for setting up the environment where that could take place.”