The National Association of Home Builders has decided that the Republican tax reform proposal would lower property values.
The National Association of Home Builders has launched an initiative to oppose a potential tax reform proposal pushed by Republican leaders in Congress.
The opposition from the powerful industry lobby comes "despite an announcement by a key House Republican, Ways and Means Chairman Kevin Brady of Texas, that a deduction for property taxes would be maintained in tax legislation that is to be unveiled Wednesday," reports Herb Jackson.
A tax reform package proposed in September by the Trump Administration maintained deductions for mortgage interest, according to Jackson. But, "[s]taff from the home builders association had been meeting with Brady's staff because of concerns that eliminating the property tax deduction, combined with a proposal to double the standard deduction, would reduce the tax benefits of home ownership."
FULL STORY: Home builders pledge to defeat income tax overhaul after homeowner credit rejected
Trump's Tax Reform Proposal Would Have a Big Effect in the Housing Market
Housing prices may fall 10 percent on average nationwide, according to a preliminary estimate commissioned by the National Association of Realtors, if the Trump Administration's tac code reform package becomes law.
EPA and Army Corps of Engineers Propose Revision of Wetlands Definition
Fulfilling a promise he made as a candidate, the Trump administration proposed a redefinition of what is classified as a wetland, with the result being the loss of federal protection of millions of acres of waterways and wetlands.
New Property Tax Changes Proposed in California
A new bill proposed in the California legislature would cut back on the number of Prop. 13 property tax breaks handed down to heirs—who then live somewhere else.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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