said the Washington Post. The House plan to double the standard deduction, end personal exemptions and repeal the deduction for state and local taxes “is a bad bill for the housing sector,” NAHB CEO Jerry Howard told Fox Business.
“All the resources we were going to put into supporting are now going to go into opposing the plan,” Howard told Politico.
The House is set to release its proposal Wednesday. NAHB will continue to keep members informed of its progress. “We will not rest until Congress guarantees us that homeownership will remain as a centerpiece of our tax policy,” said NAHB Chair Granger MacDonald.