As the tax reform debate unfolds on Capitol Hill, I wanted to provide an update on NAHB’s plan to ensure our industry’s priorities are addressed as negotiations move forward.
The broad tax reform framework introduced last week by President Trump and Republican congressional leaders presents an important opportunity for NAHB to explore additional policy options to support our industry and homeownership.
To strengthen our position at the negotiating table, NAHB’s Executive Board today voted to revise our tax policy to provide more flexibility as we work with Congress on updating the tax code. NAHB supports a tax system that is simple and fair, and that promotes greater housing opportunity for Americans across the economic spectrum.
The tax policies that NAHB supports include:
- A homeownership tax incentive;
- The low-income housing tax credit, along with additional resources to meet the affordability crisis;
- Tax incentives for remodeling, including energy efficiency tax credits;
- The exclusion of capital gains on the sale of a principal residence; and
- Business interest deductions for small businesses.
It is important to keep in mind that the proposal released last week is the first step in a long process to modernize our tax code. We will keep you updated on the progress of NAHB’s discussions with policymakers and key developments as this broad proposal gets crafted into legislation.
You can also learn more about the GOP tax proposal at nahb.org/taxreform.