Senators John Cornyn (R) and Charles Schumer (D) appeared on ABC’s ‘This Week’ with George Stephanopoulos and commented on the housing market in regards to extending the homebuyer tax credit.: (“This Week” Transcript)

From Sen. John Cornyn, R-Texas

Sen. John Cornyn , R-Texas: [Senator] Johnny Isakson of Georgia has been championing the — the tax credit for home purchases. Now it’s getting ready to expire, and it’s limited to $8,000 for first-time purchasers. His argument is, and I think he’s right, is that the housing inventories, or excess housing inventories are what are dampening the recovery. And I think he’s right.

And from Senator Schumer:

Sen. Charles E. Schumer , D-N.Y. : … I’d be for extending the housing tax credit, which has helped get the housing market out of the severe depression it was in.

And finally from the host:

George Stephanopoulos: So we have agreement: extend unemployment benefits, extend health care benefits for people who are unemployed, and extend the housing tax credit.

File Under: Time for a third party