December 19th, 2008
Washington (SmartAboutHealth) - Once President-elect Barack Obama takes office, it has been confirmed that the current U.S. Food and Drug Administration (FDA) chief Andrew von Eschenbach will resign.
The FDA chief put out a memo this week stating that he expects to resign on January 20th.
This happens to be the exact day that Obama will be sworn in as president of the United States.
The reason for his resignation is to go back home to Texas to be with his family.
President George W. Bush appointed him as acting chief back in September 2005, and was later given the position permanently.
Nothing has been confirmed as to who will replace him once he resigns.
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The Department of Defense announced today a long-overdue initiative to enroll foreigners to fill critical needs in the U.S. armed forces. Under a pilot program, the armed forces will be authorized over the next 12 months to recruit 1,000 individuals who do not currently have American citizenship or permanent resident status.
This is something I have long argued for, because I believe that there are lots of high-quality recruits around the world who would gladly serve in return for expedited citizenship. They would bring with them the kind of linguistic and cultural know-how that is lacking in our forces today but is a vital prerequisite for success on battlefields such as Afghanistan and Iraq. Even those who do not necessarily speak a “strategic” language could be a valuable asset, as so many immigrant soldiers were in our past wars.
If there is one criticism to be made of the new proposal, it is that it is so small. It is limited to a tiny number of foreigners who speak one of three dozen “critical” languages (ranging from Albanian to Yoruba) and have lived in the U.S. legally for two years or more on certain types of visas. One third of the total must be medical professionals because of a current shortfall of doctors and nurses. That’s all fine and good, but it slights the needs of the U.S. Special Operations Command, which is eager to recruit more foreigners as was previously done under the Lodge Act in the 1950’s. And it slights needs of the regular army which could use more high-quality recruits, even if enlistments are increasing in these trying economic times.
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Amid the economic upheaval, there is good news for first-time home buyers – a tax credit of up to $7,500. Even better – the definition of first-time home buyers includes those who have not owned a principal residence in the three year period prior to purchasing a qualifying home.
The tax credit, established through the Housing and Economic Recovery Act of 2008, is available only to first-time home buyers and only for homes purchased on or before April 9, 2008 and before July 1, 2009. Any home that will be used as a principal residence qualifies, including single family detached homes, townhomes, condominiums, mobile homes, and houseboats. New construction is also eligible, as long as possession or occupancy occurs within the parameters defined by the law.
For the purposes of this law, a first-time home buyer is defined as someone who has not owned a principal residence during the three years prior to the purchase of the qualified property. For married taxpayers, neither individual may have owned a principal residence in the previous years. A buyer will not be disqualified from the tax credit if they own a vacation home or rental property not used as their principal residence.
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit. Eligibility is determined based on modified adjusted gross income. Partial credit may be available for those with higher incomes; however, individuals with a modified adjusted gross income exceeding $95,000, (or $170,000 for married couples filing jointly), will be ineligible for the tax credit.
The tax credit is equal to 10% of the qualified home purchase price, but is capped at $7,500; for homes purchased for less than $75,000, the credit will be 10% of the purchase price.
There are no special forms to fill out and no pre-approval necessary. The credit is easily claimed on the federal income tax return. Plus, the credit can be claimed on the 2008 return for a home purchased in 2009. If the tax credit exceeds the taxpayer’s outstanding liability for the year, the taxpayer will receive a check from the government.
The credit is like an interest-free loan, and it must be repaid to the government over a 15-year period. Payments do not have to begin until two years after the credit is claimed. If the home is sold before the credit is repaid, the outstanding amount will be paid from profits on the sale. If there is insufficient profit to repay the credit, the remaining amount will be forgiven.
For first-time home buyers (those who are truly new to the market and those who have not owned a principal residence in at least three years), this tax credit can make it easier to transition into home ownership. Combined with housing inventories increasing, prices decreasing, and mortgage rates dropping even lower, this tax credit may just make the difference in making home ownership a reality.
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Hillcrest Farm offers a warm and charming country feel coupled by an upscale and elegant appearance. There are 54 homesites in the neighborhood ranging from 3/4 - 1 acre+. Some of the homesites have fantastic views of one or both of the community ponds. Some of the homesites are wooded, sloped for a basment style home and many more are open and level with room for a private swimming poolsomething for everyone! The ponds will be accessible to all of our Hillcrest Farm residentsperfect for fishing, walking or just relaxing in the peace and quiet. Featured Builders for the Hillcrest Farm community include Imperial Custom Homes, Homestead Building Company, Oak City Homes, RayBran Builders LLC., Spainhour Builders, Highland Builders Inc. Maxbuild Inc., Misnick Builders Inc. La Bella Casa LLC, Blue Sky Homes Inc. and Homes by Basham.
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