House passage of crucial housing stimulus legislation
came on July 23, with the Senate expected to push the bill over the goal line and straight to the President's desk in quick succession.
 H.R. 3221 represents a thoughtful, comprehensive approach to address the housing and economic crisis facing this country, and is the best news for home buyers and home builders in a long time. The centerpiece of the bill is a temporary, $7,500 first-time home buyer tax credit for the purchase of any home. This credit can be used for homes purchased between April 9, 2008 and July 1, 2009, and is expected to spur home sales, eliminate excess inventory and bring qualified buyers back into the market. As first drafted, the tax credit was set to expire on April 1, 2009 – but at NAHB's urging, Congress extended the expiration date through June 2009. This 90-day extension is important so that home buyers will be able to take advantage of the credit during the critical 2009 spring and early summer buying season.
Responding to the plummeting share values of Fannie Mae and Freddie Mac earlier this month, House lawmakers also added to the bill several provisions put forth by the Bush Administration that would help bolster investor confidence in those institutions. The Treasury-led proposal would temporarily expand the government's line of credit to Fannie and Freddie and permit the Treasury to purchase an equity stake in the companies. In addition, the Federal Reserve would be given a supervisory role over the two housing GSEs.
Beyond the all-important tax credit, H.R. 3221 also contains several other provisions to jump-start housing, save jobs and restore confidence. These include:
-FHA modernization measures and a permanent increase in FHA loan limits
-Authority for states to issue an additional $11 billion in mortgage revenue bonds
-GSE regulatory reform and a permanent increase in GSE conforming loan limits
-Enhancement of the Low Income Housing Tax Credit
-Foreclosure relief that could help as many as 400,000 struggling home owners
-Tax relief for home owners who don't itemize their deductions
At presstime, the bill had been kicked back to the Senate, where final approval was expected very soon. The next step will be the President's desk, where the Administration has indicated it will sign the measure into law. Read our most recent press release for additional information, and stay tuned for late-breaking updates from NAHB. Contacts: Greg Brown (x8421) and Scott Meyer (x8144)
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despite the ongoing challenges for would-be buyers in the current market, according to a new survey conducted by Harris Interactive for Move, Inc. As reported in last week's 
has been approved by the American National Standards Institute (ANSI) over strong opposition from industry groups including NAHB. Led by the American Society of Safety Engineers, an ANSI committee on construction safety developed the A.10 standard on "musculoskeletal problems" through a deeply divided "consensus" process that ignored the concerns of builders. The Construction Employers Coalition, which included NAHB and four other major industry representatives, opposed the standard as it was written and brought a series of unsuccessful appeals. In addition to the coalition members, 11 other firms and organizations opposed the standard. One problem is that it will not help reduce workplace injuries because it does not provide adequate workplace safety instructions. Instead, it offers only vague suggestions for employers to examine activities involving "force," "pushing" or "lifting." This lack of specificity also makes it virtually impossible for builders to demonstrate compliance with the standard. OSHA sometimes uses ANSI standards as the basis for a citation, and plaintiffs' lawyers use them as evidence in lawsuits. Going forward, NAHB will be informing our members of the array of alternatives to the standard that are available to help prevent soft-tissue injuries. For more information, see our 
documenting the latest advances on our top Advocacy issues was updated for the Summer Executive Board Meeting held this week in Quebec, and is now available to you online. This document is meant to give you a quick summation of issues on which there has been recent movement, as well as directions on where to go for more information. It is viewable by members only (note: you must be logged onto the NAHB Web site with your username and password) at 