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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Latest Economic News
Existing home sales continued to slow in July as record-high home prices and elevated mortgage rates weighed on buyers. Mortgage rates resumed an upward trend after the ceasefire ended in early July.
Demand for all types of residential mortgages was weaker, while lending standards for most were essentially unchanged in the second quarter of 2026, according to the recent release of the Senior Loan Officer Opinion Survey (SLOOS).
Wage growth for residential building workers continued to lose momentum in the second quarter of 2026, reflecting softer housing construction activity and weaker labor demand. According to the latest data from the U.S. Bureau of Labor Statistics, both nominal and inflation-adjusted wages have weakened further, extending the cooling trend that emerged after the strong wage gains of the post-pandemic period.