Max Baucus: “Charles Dickens wrote: Home is a name, a word, it is a strong one; stronger than a magician ever spoke, or a spirit ever…”

“Charles Dickens wrote: Home is a name, a word, it is a strong one; stronger than a magician ever spoke, or a spirit ever answered to, in the strongest conjuration. Simply put, we are here today to help families keep their homes. We are here today to move a package of tax provisions that will help those families to keep their homes. Our package does so with tax relief for homeowners, for home buyers, and for home builders. Today, many American families find their home is threatened. A weak housing market has spread weakness throughout the larger economy. More than 5 million households now owe more than their house is worth. That is about 1 out of every 10 home mortgages. As prices fall, that number is expected to grow. Our tax package seeks to stabilize the housing market by providing temporary, targeted, and timely tax relief to the housing market.”