Congress reached an agreement on two pieces of legislation. An omnibus spending bill will fund the federal government and a $600 billion bipartisan tax bill will extend tax policies related to housing, construction, and real estate.
NAHB says that the bills are good news for the housing industry for next year. The group examined some of the extensions of the legislation.
For instance, Section 179 Small Business Expensing will permanently extend small business expensing limitation, going up to $500,000 (from $200,000 previously) with a $2 million phase out.