NAHB Does About-Face on GOP Tax Cuts

Posted To: MND NewsWire

We know that politics makes strange bedfellows. Still we get confused when they rise up and switch partners in the middle of the night. A mere 25 days ago, we reported that the National Association of Home Builders (NAHB) had abandoned its 75 years of vigorously supporting the mortgage interest tax deduction (MID) as the Republican majority in Congress was beginning discussions about their planned massive tax cuts (AKA tax reform). The National Association of Realtors (NAR), NAHB's staunch partner in the 75-year battle to protect the MID, was holding firm. Way back then, in early October, NAHB seemed willing to forego the MID in favor of protecting the low-income tax credit. The then current chairman, Granger MacDonald, said "By lowering the pass-through rate, the plan will reduce the tax bill...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Mortgage News Daily http://ift.tt/2gXc9Iy