Last week, National Public Radio reporter Mike Pesca sent me a link to the GOPs latest proposal for “The Responsible Homeowners Act” (PDF file). It contains several provisions, including the resurrection of the $15K home buyer tax credit that was briefly a part of the Stimulus Bill passed in February (and discussed on this blog at length).

First-time purchasers get a tax credit windfall if they buy before December.

For those who are interested, here is the wording of the Refundable First-time Home Buyer Credit as announced by Congress in a statement issued this morning.

Under the Senate's stimulus bill, homebuyers could receive a $15,000 tax credit if they purchase within a year.

Four months after Congress tried to rescue the economy with a $700 billion bailout for the financial industry, Republicans and Democrats are suddenly competing to bail out financially struggling homeowners.