Oct 29, 2017

Homebuilders to oppose GOP tax bill

The National Association of Home Builders will oppose the still-secret Republican tax bill because it would "remove much of the incentive for the mortgage-interest deduction outside the highest-cost areas and could potentially hurt home prices," the Wall Street Journal reports. The House chairman drafting the bill told the WSJ details are still under discussion.

Why it matters: Republicans had hoped to keep business groups united on the tax bill, which is expected to be released this week. "The home builders, along with the National Association of Realtors, are a powerful lobbying force, with members spread throughout the country and a significant stake in changes to homeownership incentives currently in the tax code," the paper says.

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