NAHB Says Tax Reform Should Strengthen Low-Income Housing Tax Credit, Promote Homeownership

摘要

The National Association of Home Builders (NAHB) called for changes in the tax code to strengthen the low-income housing tax credit and promote homeownership in comments submitted to the President's Advisory Panel on Federal Tax Reform. The panel has a July 31 deadline for its report to the Treasury Department with recommendations to reform or replace the Internal Revenue Code. In its comments, NAHB reiterated its position that the alternative minimum tax (AMT) has discouraged individuals from investing in tax credits because they can't be used to offset individual AMT liabilities.