Republicans in Congress propose housing legislation

By Katie Knapp

Omaha, NE – Second District Congressman Lee Terry is among the House Republicans introducing legislation to help the housing market.

Terry's legislation would provide a one-time tax credit, up to $10,000, to homebuyers. The goal is to encourage home buying and spur economic growth. Terry says too many jobs rely on the housing market and too many people are afraid to buy homes given the current economy.

But Second District Congressional candidate Jim Esch says he doesn't believe the legislation does anything. He says people with good credit don't need any incentive right now to buy houses. Esch says lawmakers should focus on the real issue of helping homeowners who are facing foreclosure.