NAHB reconsiders housing tax policy

Among policies that NAHB is promoting are a homeownership tax incentive and a low-income housing tax credit

NAHB reconsiders housing tax policy
For the first time in 75 years, the National Association of Home Builders (NAHB) is reconsidering its stand on housing tax incentives.

The announcement comes as the Trump administration and congressional leadership continue to discuss tax reform.

During its fall meeting, the NAHB executive voted unanimously to revise its tax policy. NAHB said the move allows it greater flexibility as discussion unfold

"This is the first time in NAHB’s 75-year history that we have been open to the idea of broader options regarding housing tax incentives," NAHB Chairman Granger MacDonald said. "Now is the time to reform tax policy, and housing will not be left behind in this process."

NAHB expressed support for a simple and fair tax system that gives Americans across the economic spectrum more housing opportunities. NAHB is promoting tax policies including a homeownership tax incentive; the low-income housing tax credit, along with additional resources to meet the affordability crisis; tax incentives for remodeling, including energy efficiency tax credits; the exclusion of capital gains on the sale of a principal residence; and business interest deductions for small businesses.

"Tax policy is key to homeownership, affordable rental housing, business success, and job creation," MacDonald said. "That’s why NAHB will be fully engaged in this debate and pushing for innovative solutions that bring a better policy environment for American enterprise and lasting prosperity for our nation’s people."

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