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June 20, 2008
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Steve Patterson, Chair
Sharon Dworkin Bell,
Senior Staff Vice President |
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Urge Congress to Act on Stimulus Legislation Before July 4th Recess
Members of NAHB are being urged to contact their members of Congress and seek their support to enact housing stimulus legislation before the July 4th recess by calling 1-866-924-6242.
At the top of the list of provisions that are needed is a temporary home buyer tax credit to stimulate home buying and reduce excess inventory.
A homebuyer tax credit, such as the first-time homebuyer tax credit would provide direct and indirect benefits to the housing sector, including multifamily owners and developers. The House-passed credit would provide a tax credit to first-time purchasers of all homes, including condos. NAHB supports this approach, which does not restrict what kind of housing units qualify for the credit.
This bill also includes revitalization of the Federal Housing Administration, reform of Fannie Mae and Freddie Mac, expansion of the mortgage revenue bond program and enhancements for the low-income housing tax credit.
For more information on the grassroots campaign, E-mail Molly Murray at NAHB, or call her at 800-368-5242 x8282. Read the full article in NBN.
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