Senator Mensch, Realtors to Promote First-Time Homebuyers Savings Account Program at 9:30 A.M. Thursday in Quakertown

News conference will take place at single-family home listed for sale 

QUAKERTOWN, Pa. (May 8, 2018) – State Sen. Bob Mensch (R-Bucks/Montgomery) will participate in a news conference here at 9:30 a.m. Thursday to promote legislation he sponsored to create an incentive program for first-time homebuyers in Pennsylvania.

The event will take place at 1004 Brookfield Circle, Quakertown, which is a single-family home currently listed for sale. Joining Mensch will be Gilbertsville Realtor® Greg Herb, past president of the Pennsylvania Association of Realtors®; Quakertown Realtor® Paul Myers; and first-time homebuyer Alicia Walck of Quakerstown.

Mensch and Sen. Wayne Fontana (D-Allegheny) recently introduced Senate Bill 1066, which would create the First-Time Homebuyers Savings Account program. The legislation has been voted out of the Senate Urban Affairs Committee.

Under the bill, first-time homebuyers or buyers re-entering the housing market would be able to set up 10-year tax-deductible savings accounts for purchasing a home. Parents and grandparents also would be eligible to contribute to these accounts on behalf of children and grandchildren.

The program has the potential of boosting home sales by 4,000 per year across Pennsylvania while delivering an economic impact of up to $68.8 million, according to an economic study by Anderson Economic Group. In a survey, more than 80 percent of Pennsylvanians said the First-Time Homebuyers Savings Account would be beneficial to the state.

For more information about the First-Time Homebuyers Savings Account, visit FirstHomePA.com.