Home builders revise policy as tax reform debate heats up
WASHINGTON — The National Association of Home Builders (NAHB) has voted to revise its policy regarding the nation’s tax code in light of recent discussions on tax reform between congressional leadership and the Trump administration.
The vote gives NAHB greater flexibility as the tax debate unfolds and stakeholders seek consensus to shape a tax code that best serves the nation’s consumers and small businesses.
“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,” said Granger MacDonald, NAHB chairman and a builder and developer from Kerrville, Texas. “Now is the time to reform tax policy, and housing will not be left behind in this process.”
NAHB supports a tax system that is simple and fair, and that promotes greater housing opportunity for Americans across the economic spectrum.
The tax policies that NAHB is promoting include:
·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.”
The tax policy was revised in a unanimous vote by NAHB’s Executive Board during its fall meeting.