Granger MacDonald, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Kerrville, Texas, today issued the following statement on tax reform legislation that was approved by the Senate Finance Committee:
“Though NAHB believes the Senate tax legislation is better for the housing sector, like the House, it fails to provide a meaningful incentive for homeownership for the middle class. We will continue to work with Congress on tax policy and other areas to ensure that housing and homeownership remain a national priority. Enacting meaningful tax reform that will help the middle class and small businesses is vital to keep the housing market moving forward and to create job and economic growth.
“The Senate tax plan would, however, protect important provisions to boost the production of affordable housing, including the Low-Income Housing Tax Credit and the tax-exempt bond program. The Senate plan would also provide sufficient tax reductions for small businesses to enable them to remain major drivers of job growth and maintain a level playing field with large corporations.”