NAHB Now's Latest Posts
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.
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.
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.
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).
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.
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.
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).
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.
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.
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.
