A Proud Moment

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The recently enacted $350 billion tax cut will move the economy and the housing sector forward by stimulating consumer spending and capital investment.

July 01, 2003

 

Kent Conine, President NAHB

Kent@conine.com

 

The recently enacted $350 billion tax cut will move the economy and the housing sector forward by stimulating consumer spending and capital investment.

As the congressional debate on the tax plan unfolded, the NAHB remained a voice of reason to mitigate fears that President Bush's proposal to eliminate the double taxation of corporate dividends would harm the Low Income Housing Tax Credit program.

The NAHB testified before Congress in support of Bush's economic growth package and offered solutions to mitigate unintended effects that his dividend proposal could have on the LIHTC. We also met several times with Treasury Secretary John Snow and his aides and presented economic data to help the Treasury Department craft a reasonable solution.

The NAHB was the only housing organization that actively participated in discussions between the administration and Congress on an economic growth package. It was one of our association's proudest moments.

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