Upon learning that a homeownership tax credit will not be included in the initial version of the tax reform bill set for release this week, National Association of Home Builders' top officials unanimously agreed to oppose the bill.
Jerry Howard, chief executive of the National Association of Home Builders, and Ways and Means Committee chairman Rep. Kevin Brady's (R-Tex.) aides had previously worked together on a homeownership tax credit for the bill, combining the mortgage interest and property tax deductions. “Chairman Brady and his staff and [NAHB] worked hours and hours on it ... and all of the sudden on Friday we were told that concept would no longer be considered,” Howard said, The Washington Post reports.
Home builders are considered among the most politically influential groups, as they play a large role in the local economy for virtually every congressional district — and contribute millions to political campaigns. Lawmakers have frequently leaned in whatever direction the home builders have taken.
