Industry News

Builders continue fight against tax reform

Teams with Congress to reject chopping mortgage-interest deduction
Published on Nov 29, 2005

With the strong backing of the nation's home builders, several Republican members of the House Ways and Means Committee are taking steps to kill a presidential panel's tax reform proposal that would eliminate or sharply curtail the mortgage-interest deduction and do away with state and local taxes. "We stand shoulder-to-shoulder with the members of the tax-writing Ways and Means Committee who support these important housing tax provisions," said Jerry Howard, executive vice president and CEO of the National Association of Home Builders. "As the Administration finalizes its tax simplification plan, we will continue to work with members of Congress to convince the White House to reject proposals that would harm homeowners, the housing sector and the economy," he added. Eight members of the Ways and Means Committee recently sent a letter to Treasury Secretary John Snow urging the Administration to "preserve some important incentives for homeownership investment that clearly work." "W...

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