Property Owners One Step Closer to Getting Equal Access to Justice
Private property owners on July 12 moved one step closer to being able to have their claims heard in federal court in a timely manner as H.R. 4772, the "Private Property Rights Implementation Act of 2005," cleared the House Judiciary Committee by voice vote. The measure would restore the protections offered under the Fifth Amendment to property owners. Typically, property owners face nearly insurmountable hurdles when seeking just compensation for a regulatory taking, and because of those hurdles government agencies often feel free to violate Fifth Amendment protections because they have little fear that property owners will take legal action in response.

NAHB has been a driving force behind H.R. 4772, and has worked aggressively to push it through the process. NAHB staff negotiated the legislative language with the bill’s sponsor, Rep. Steve Chabot (R-OH), coordinated with the Judiciary Committee on hearings and markup plans, and whip-counted the votes for the measure.  NAHB expects that the U.S. House of Representatives will take up this legislation later in the year.  View the NBN story or read the entire bill by clicking here and typing the bill number in the center screen box. For more information, e-mail J.P. Delmore or contact him at 800-368-5242, x8412.

Tax Reform Back on Radar Screen
The Senate Finance Committee last week held a hearing to consider the nomination of Eric Solomon to be Assistant Secretary of the Treasury for Tax Policy at the U.S. Department of the Treasury.  During the hearing Solomon spoke to his own priorities on tax reform, which include: simplification, keeping rates low, dealing with the Alternative Minimum Tax (AMT) and encouraging savings and investment.  He mentioned that this must be done while also “recognizing” other social policy priorities such as homeownership and charitable giving, among others. 

Committee Chairman Chuck Grassley (R-IA) pressed Solomon to act on the Administration’s promise to deliver a response and analysis of the recommendations made by the President’s Advisory Panel on Federal Tax Reform (the Panel) in November of 2005.  The Panel’s recommendations included the complete elimination of housing incentives in the tax code, including the mortgage interest deduction, home equity loan interest deduction, second-home mortgage interest deduction and the Low Income Housing Tax Credit.  Chairman Grassley also announced that the committee would hold a hearing on tax reform just prior to the scheduled August recess.  It is expected that former Senators and Co-Chairs of the Panel, John Breaux (LA) and Connie Mack (FL), will testify at that hearing. Though Grassley is holding a hearing to revive tax overhaul efforts, no major congressional action is expected before this fall’s elections. For more information, e-mail Greg Brown or contact him at 800-368-5242, x8421. [return to top]