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Senate Proceeding on May 20th, 2009 :: 3:07:25 to 3:09:35
Total video length: 10 hours 50 minutes Stream Tools: Stream Overview | Edit Time

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Johnny Isakson

3:07:22 to 3:07:44( Edit History Discussion )

Johnny Isakson: prevent that failure is in the strategic as well as in the economic interests of our country. and the world is looking to us to keep our word. i urge support for the president's request. the presiding officer: the senator mr. isakson: madam president, i would ask unanimous consent that the pending amendment be

Johnny Isakson

3:07:25 to 3:09:35( Edit History Discussion )
Speech By: Johnny Isakson

Johnny Isakson

3:07:45 to 3:08:05( Edit History Discussion )

Johnny Isakson: set aside, and amendment number 1164, which is at the desk, be pending. the presiding officer: is there objection? without objection, so ordered. the clerk will report. clark crk mr

Johnny Isakson

3:08:06 to 3:08:26( Edit History Discussion )

Johnny Isakson: mr. isakson: this amendment is -- first i'd like to ask unanimous consent that senators dodd, senator lieberman, senator chambliss be added to the amendment. the presiding officer: without objection. mr. isakson: this amendment is very simple. you've heard me many times come to the floor and talk housing tax credit. the tax credit that we finally

Johnny Isakson

3:08:27 to 3:08:47( Edit History Discussion )

Johnny Isakson: amended to repeal the pay-back provision of $8,000 for first-time homebuyers has brought an improvement in home sales of 40%. this amendment merely removes the means test of a maximum income of $150,000 for a couple and $75,000 for an individual and it remov the means test that they have to be a first-time homebuyer.

Johnny Isakson

3:08:48 to 3:09:08( Edit History Discussion )

Johnny Isakson: which means any homebuyer buying a home for their principal residence will receive an $8,000 tax credit and it would be no limitation to their income to disquali them. i havalways fought on this ploor for a maximum tax deduction credit of $15,000, but i know how difficult that has been. but in the evidence of what's happened with the current $8,000

Johnny Isakson

3:09:09 to 3:09:29( Edit History Discussion )

Johnny Isakson: with the means test, by removing it, i am confident we'll have a significant improvement in the housing market in america, which in turn will cause a significant improvement in the economy of the united states of america. as happened in 1968, 1991, housing took america into a recession and it was only when

Johnny Isakson

3:09:30 to 3:09:35( Edit History Discussion )

Johnny Isakson: it recovered that america began to come out. this improvement in that amendment -- with this amendment will be better for the people of the united states of america and

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