July 10, 2009

 
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Congress Urged to Act on Freddie Mac's Proposed LIHTC Portfolio Sale
NAHB this week sent a letter to members of the Senate Banking Committee, Senate Finance Committee, House Financial Services Committee and House Ways and Means Committee expressing our serious concern related to the upcoming sale of a significant portion of Freddie Mac’s Low Income Housing Tax Credit (LIHTC) portfolio. NAHB believes that such a large sale could further depress tax credit prices that are already near historic lows.

The letter said that the “sale will have immediate and significant negative impacts on the investor market for LIHTCs and on the development of affordable rental housing. We urge you not to allow this transaction to take place as currently crafted.”

For more information, contact Greg Brown at 1-800-368-5242, x8421.

Senate Panel Delays Action on Climate Bill
The Senate Environment and Public Works Committee this week announced it will wait until after the August congressional recess before considering a mark up of climate change legislation. The committee had originally planned to vote this month on a bill. Instead, committee chair Barbara Boxer (D-Calif.) said the mark up will be set for early September to give senators additional time to craft the large and complicated bill, which has not yet been officially introduced.

Earlier this month, the House narrowly passed its own climate change bill, which NAHB deems as seriously flawed. The House measure only targets new homes and fails to pursue an integrated strategy that better addresses existing homes, equipment efficiency and consumer behavior.

As the legislative process advances, NAHB will continue to work with Senate allies to ensure that the onerous provisions in the House bill do not get taken up, and that the approaches taken by the Seante emphasize the importance of affordability, cost-effectiveness, and consumer choice.

For more information, contact Elizabeth Odina at x8570. [return to top]

For more information or to contact us directly, please visit www.NAHB.org l ©2009, National Association of Home Builders

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