NAHB opposes Republican tax plan

The National Association of Home Builders announced its opposition to the tax plan written up by Republican members of the House Ways and Means Committee.

A statement from the National Association of Home Builders’ Granger MacDonald, the group’s chairman and homebuilder from Kerrville, Texas, expressed disappointment in the absence of a meaningful home ownership tax credit in the proposal.

In a statement released Monday morning, MacDonald wrote:

“NAHB worked closely with leaders of the House Ways and Means Committee to develop a better homeownership tax incentive that will ensure the middle class - not the wealthy - benefits. Last week, it appeared that we had a deal that would establish a meaningful homeownership tax credit that would benefit tens of millions of households. Unfortunately, we were told by the House leadership that the credit will be removed from the bill."

The statement follows recent statements from the NAHB that  supported the idea of dropping its support for the Mortgage Interest Deduction, so long as home ownership incentives remained in place.

Read MacDonald’s full statement on the Republican tax plan here.