[update thanks to Rachel Cohen at afterthespill.com: the House passed the tax bill late last night by a 277-148 margin, sending the bill - with a one year GO Zone tax credit extension - to the President to be signed]
We've written before about the Gulf Opportunity Zone tax credits, which were set to expire at the end of the year. The end of those credits threatened to halt several important affordable housing and business development initiatives in New Orleans and the Gulf Coast.
Late yesterday came the good news that the Senate approved a one year extension through 2011 as part of tax bill. Though it wasn't the two year extension initially requested by Senatory Landrieu, her office expressed optimism in securing the hoped for two year extension in early 2011 after receiving bipartisan commitment from Senate leaders.
