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The National Association of Home Builders (NAHB) has changed its long-held stance on tax reform, revising its policy unanimously at a recent meeting, the organization announced. According to a statement:

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.

“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, chairman of the NAHB, in the statement. “Now is the time to reform tax policy, and housing will not be left behind in this process. Tax policy is key to homeownership, affordable rental housing, business success and job creation. 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.”

Several industry organizations have denounced the Republican framework for tax reform, with the National Association of REALTORS® (NAR), notably, stating it “misses the goal” to preserve and protect homeownership.

Stay tuned to RISMedia for more developments.

Source: National Association of Home Builders (NAHB)

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