Podcast: House Passes Important Tax Bill and More from Capitol Hill
On the latest episode of NAHB’s Housing Developments podcast, sponsored by LG Pro Builder, CEO Jim Tobin and COO Paul Lopez discuss the latest developments on Capitol Hill, including House passage of the American Families and Workers Act of 2024. The nearly $80 billion tax package would expand the federal child tax credit and enact a number of other business-related provisions, including strengthening the Low-Income Housing Tax Credit (LIHTC).
Watch the latest episode below, and subscribe to Housing Developments through your favorite podcast provider.
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Housing’s share of the economy was 15.7% in the third quarter of 2026, according to the latest estimates of GDP produced by the Bureau of Economic Analysis. This share is down from 15.8% in the second quarter and down from 16.0% a year ago. Residential construction, measured by residential fixed investment, fell for the sixth time over the past eight quarters.
The Federal Reserve’s preferred inflation gauge accelerated in September after holding at 3.0% for three consecutive months, complicating the Fed’s path to its 2% target. Consumer spending continued to be pushed up by elevated energy prices rather than income growth, driving the personal saving rate to the lowest level in nearly four years.
The U.S. economy grew at a faster pace in the third quarter of 2026, supported by stronger consumer spending, robust business investment, and increased government spending. However, residential investment remained a weak spot, highlighting the continued challenges facing the housing sector amid elevated borrowing costs.