NAHB Urges Tax Credit Extension, Enhancement

Washington, DC, Aug. 11, 2009--The National Association of Home Builders is urging Congress to extend and enhance the $8,000 first-time home buyer tax credit due to expire Dec. 1.
 
Specifically, NAHB is asking Congress to extend the home buyer tax credit program through Nov. 30, 2010 and make it available to all buyers of principal residences.
 
“If Congress acts to extend the tax credit program, it would spur 383,000 additional home sales, including 80,000 housing starts, creating nearly 350,000 jobs over the coming year,” said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla.
 
In addition to extending the tax credit, Robson said home builders will be meeting with their lawmakers in their home districts during the August congressional recess and urging them to correct what they see as a faulty appraisal process and act to improve housing credit conditions.