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Updated: November 2nd, 2009 10:30 AM EDT
Chemical News & Intelligence
HOUSTON (ICIS news)--The push to further the U.S. government's home buying tax credit got another nudge on Thursday when the Associated General Contractors ([1]AGC) of America put its support behind the initiative.
The AGC focuses on nonresidential construction, but it is putting its weight behind extending the $8,000 first-time homebuyer tax credit in hopes it would be a recovery catalyst for the entire construction sector.
The current tax credit program is set to expire by the end of November, and a 12-month extension would "encourage new residential construction, stimulate nearby infrastructure, commercial and retail construction while boosting tax revenue", the AGC said.
The AGC is the latest trade group to put its stamp of approval on more government support for homebuyers.