Real Housing Stimulus Seen as Having Little Support

Republican Sen. Johnny Isakson and Democrat Sen. Chris Dodd are proposing a bill that would allow a $15,000 tax credit for all buyers without regard to income limits. The existing law allows only an $8,000 credit for first time buyers and it phases out if you're rich ($75K for singles; $150K for couples).

Finally a decent idea comes from Congress that might actually stimulate demand and there is no support for it.