Political Quotes

“I believe ``home'' is one of the warmest words in the English language. At the end of a long day, I think the favorite phrase of every hardworking working man and woman in this country is: ``Well, I'll see you tomorrow. I'm going home now.'' That is why I rise today to introduce the First Time Homebuyers' Tax Credit Act of 2003. The bill I am introducing will spread that warmth by opening the door to homeownership to millions of hardworking families, helping them cover the initial down payment and closing costs. This initiative is in keeping with our longstanding national policy of encouraging homeownership. Owning a home has always been a fundamental part of the American dream. We, in Congress, have long recognized the social and economic value in high rates of homeownership through laws that we have enacted, such as the mortgage interest tax deduction and the capital gains exclusion on the sale of a home. Over the life of a loan, the mortgage interest tax deduction can save homeowners thousands of dollars that they could use for other necessary family expenses such as education or health care. These benefits, however, are only available to individuals who own their own home. It is important also to note that owning a home is a principle and reliable source of savings as homeowners build equity over the years and their homes appreciate. For many people, it is home equity--not stocks--that help them through the retirement years.”