More than 700 builders descended upon Congress on Wednesday to urge lawmakers to make housing and homeownership a national priority and take concrete steps to get housing "back on track," according to the National Association of Home Builders (NAHB).
"Though we are seeing some hopeful signs of recovery in many markets throughout the nation, our industry still faces stiff headwinds," said NAHB Chairman Barry Rutenberg, a home builder from Gainesville, Fla.
The builders, who held more than 250 individual meetings with lawmakers, called on Congress to:
- Support legislation that restores the flow of credit for new housing production, including H.R. 1755, the Home Construction Lending Regulatory Improvement Act, which currently has 96 co-sponsors.
- Pass legislation to reform Fannie Mae, Freddie Mac and the Federal Home Loan Banks, which, collectively, facilitate housing credit in the U.S.
- Preserve current housing tax incentives, including the mortgage interest deduction and Low Income Housing Tax Credit.
- Amend the EPA's Renovation, Repair and Painting (RRP) rule to make compliance easier.
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