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HUD Secretary Carson Discusses Agency Actions on Key Housing Issues

Filed in Advocacy, Housing Affordability, Membership, Multifamily by on September 25, 2020 0 Comments
HUD Secretary Carson Discusses Agency Actions on Key Housing Issues

U.S. Housing and Urban Development Secretary Ben Carson on Sept. 24 participated in an exclusive webinar for NAHB members and invited guests, and discussed the need to address the lumber crisis as well as HUD’s actions to address housing needs in response to the COVID-19 pandemic.

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White House Joins NAHB in Opposing House Energy Bill

Filed in Advocacy, Codes and Standards, Housing Affordability by on September 24, 2020 0 Comments
White House Joins NAHB in Opposing House Energy Bill

The White House today joined NAHB in opposing House energy bill H.R. 4447 due in part to problematic language regarding building codes that would harm housing affordability.

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FHFA Further Extends Support for Borrowers

Filed in Advocacy, Disaster Response, Housing Finance by on September 24, 2020 0 Comments
FHFA Further Extends Support for Borrowers

The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac will extend buying qualified loans in forbearance and several loan origination flexibilities until Oct. 31, 2020. 

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HBI Well Suited to Help Justice-Involved Individuals

Filed in Advocacy, Workforce Development by on September 23, 2020 0 Comments
HBI Well Suited to Help Justice-Involved Individuals

Workforce training can be a launching pad into a rewarding, well-paying career that might otherwise be unavailable to people with a criminal record. That was the message NAHB Chairman Chuck Fowke delivered during a Sept. 22 discussion on criminal justice reform hosted by the Republican Governors Association (RGA).

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House Passes Bill to Avert Government Shutdown, Extend Flood Insurance Funding

Filed in Advocacy by on September 23, 2020 0 Comments
House Passes Bill to Avert Government Shutdown, Extend Flood Insurance Funding

By an overwhelming bipartisan vote of 359-57, the House voted on the evening of Sept. 22 to pass a stopgap spending bill that will avert an impending government shutdown by funding every federal government agency at current levels through Dec. 11. The Senate is expected to approve the bill in the near future. Absent congressional action, the government would have faced a shutdown on Oct. 1.

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Department of Labor Proposes New Independent Contractor Rule

Filed in Labor, Legal by on September 22, 2020 1 Comment
Department of Labor Proposes New Independent Contractor Rule

The U.S. Department of Labor (DOL) has announced a proposed rule clarifying the definition of employee under the Fair Labor Standards Act (FLSA) as it relates to independent contractors.

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Federal Reserve Releases Plan to Reform Community Reinvestment Act

Filed in Housing Finance by on September 21, 2020 0 Comments
Federal Reserve Releases Plan to Reform Community Reinvestment Act

The Federal Reserve on Monday issued an Advance Notice of Proposed Rulemaking (ANPR) that invites public comment on an approach to modernize the regulations that implement the Community Reinvestment Act (CRA).

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Forgivable PPP Loans May be Taxable in Some States

Filed in Economics, Tax Reform by on September 21, 2020 0 Comments
Forgivable PPP Loans May be Taxable in Some States

Businesses who received loans under the Payroll Protection Program (PPP) may be eligible to have that loan forgiven, which may result in unforeseen tax consequences.  The federal Internal Revenue Code generally treats forgiven debt as taxable income; fortunately, Congress has excluded forgiven PPP loans from federal taxable income. However, as noted in a recent blog post by the Small Business Administration, that income may still be treated as taxable by your state.

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Navigable Waters Protection Rule a Win for Housing Affordability, Regulatory Certainty

Filed in Advocacy, Environment, Housing Affordability by on September 16, 2020 0 Comments
Navigable Waters Protection Rule a Win for Housing Affordability, Regulatory Certainty

NAHB today told Congress that the Navigable Waters Protection Rule (NWPR) that went into effect in June will help builders create more affordable housing options for hardworking American families while maintaining environmental protection of our nation’s waterways.

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IRS Guidance on Payroll Tax Deferral Leaves Key Question Unanswered

Filed in Economics, Tax Reform by on September 8, 2020 2 Comments
IRS Guidance on Payroll Tax Deferral Leaves Key Question Unanswered

The Internal Revenue Service (IRS) recently released Notice 2020-65 implementing the Aug. 8 presidential memorandum instructing the Department of Treasury to use its statutory authority to permit employers to defer withholding and payment of the employee’s 6.2% social security tax.

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