Industry News

Housing groups back Bush proposals

President makes no mention of plans for mortgage interest tax deduction

President Bush, during his State of the Union Address on Wednesday, noted that home ownership levels have been elevated "to the highest level in history," and said that his plan for federal tax reform will be simple, fair and "pro-growth." His speech was welcomed by the home-building industry. The National Association of Home Builders issued a statement today expressing support for several housing-related issues that Bush highlighted in the annual address. David Wilson, president for the association, said the association supports Bush administration plans to "eliminate unnecessary regulatory barriers that impede economic and job growth; to pass class action tort reform to curb the number of frivolous lawsuits that unnecessarily drive up the cost of housing; to enact association health plan legislation so that small businesses are able to provide quality, cost-effective healthcare to their employees; and to make tax relief permanent." While the president cited a record-high home ow...