NAFCD Supports Home Improvements Stimulus

Chicago, IL, March 23, 2010--The North American Association of Floor Covering Distributers said it is supporting the proposed Home Improvements Revitalize the Economy Act of 2009.
 
With the recent economic downturn, NAFCD members have seen a steep decline in sales and an increase in job losses in the home furnishings and building products sectors.

The group said the building material and floor covering industries have lost more than a half a million jobs during the last three years.  Additionally, from 2007 to 2008, over $67 billion was lost in economic revenue, with an additional $74 billion expected to be lost in the next year.
          
The HIRE Act, extending over a period of three years, will directly benefit NAFCD members who are experiencing economic losses in the industry through a temporary and targeted effort to put money into the hands of consumers and stimulate the U.S economy.

The act seeks to incentivize consumers to improve the value of their home and to purchase home furnishings through a series of tax deductions and credits based on income level.