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Here are the highlights:
You can learn more here at the HUD website.
Update: I found a good summary from the Wall Street Journal. Here's their take on the key points, and their costs.
Update2: The first-time homebuyer tax credit is actually more like an interest free loan.
"Create home-buyer credit. The bill includes a tax refund for first-time home buyers worth up to 10% of a home's purchase price but no more than $7,500. The refund, however, serves more as an interest-free loan, since it would have to be paid back over 15 years in equal installments. It would be reduced gradually for single filers with adjusted gross incomes above $75,000 and for joint filers with AGIs over $150,000."


