By NAHB Now
A $900 billion economic relief package approved by the House and Senate tonight includes key provisions that NAHB championed. We worked closely with Democratic and Republican congressional leaders to ensure the recovery legislation addresses three major builder concerns:
- Provides relief for small businesses from burdensome loan forgiveness requirements.
- Helps struggling renters and landlords with dedicated rental assistance.
- Assists HBAs that have largely been excluded from previous relief measures.
The final package covers these three areas and contains several other policy objectives that NAHB has championed, including a permanent minimum 4% credit floor on low-income housing tax credits that will allow multifamily developers to finance thousands of additional affordable rental units and an extension of temporary tax provisions for newly-built energy-efficient homes and for home owners who engage in remodeling activities.
