NAHB connects jobs to NOL carryback

The current net operating loss carryback law needs to be expanded, according to Joe Robson, chairman of the National Association of Home Builders (NAHB) and a homebuilder from Tulsa, Okla.

Robson issued a statement pointing to the loss of jobs in the residential construction industry.

The statement reads:  "Since February 2006, residential construction has lost nearly 1 million jobs and this figure continues to grow on a monthly basis. In order to put builders back to work and help to revive housing and the economy, we continue to call on Congress and the Obama Administration to do everything possible to expand the net operating loss (NOL) carryback provision that was contained in the recently enacted economic stimulus legislation. NAHB supports the fullest and most robust NOL carryback provision possible in order to avert more costly layoffs in construction and other industries that would take an even worse toll on the nation's economy. As part of this expanded NOL carryback, NAHB also supports measures to ensure that an enhanced NOL rule would not create any undue advantages in the marketplace."