Tag: tax extenders
Congress Revives Expired Tax Extenders, Makes Other Key Tax Changes
Congress approves a package of tax changes that include a number of provisions sought by NAHB, including a series of temporary tax provisions known as “tax extenders.”
Bipartisan Legislation Introduced on Energy Tax Incentives
Two NAHB-supported bipartisan bills have been introduced in the House and Senate to update and extend two expired energy tax incentives frequently used by home builders and remodelers. These provisions are part of a broader group of temporary tax incentives, known as tax extenders, that expired at the end of 2017.
House Tax-Writing Panel Clears Tax Extenders Legislation
On June 20, the House Ways and Means Committee approved H.R. 3301, the Taxpayer Certainty and Disaster Tax Relief Act of 2019. This legislation would retroactively reinstate and extend many key housing tax provisions through Dec. 31, 2020.
Bipartisan Tax Extenders Bill Introduced in Senate
Senate Finance Committee Chairman Charles Grassley (R-Iowa) and Ranking Member Ron Wyden (D-Ore.) have introduced the Tax Extender and Disaster Relief Act of 2019, NAHB-supported legislation that would reinstate and extend key housing tax provisions through Dec. 31, 2019.
Energy and Home Owner Tax Credits Included in Budget Accord
As part of the Bipartisan Budget Act of 2018, which was signed into law on February 9, Congress retroactively extended a number of expired energy and home owner tax provisions. The tax credits were reinstated on a retroactive basis for 2017 only.
Outlook Gloomy for Tax Extenders, Including Energy Incentives
A number of temporary tax provisions, or tax extenders, are set to expire this month, and it appears unlikely that Congress will renew them. They include energy tax incentives used by builders, as well as home owner tax benefits including the deduction for mortgage insurance premiums.
Tax Extenders Package Includes Key NAHB Priorities
Congressional leaders early this morning released a $650 billion tax package that permanently renews certain NAHB housing tax priorities while providing a two-year retroactive renewal for others through the end of tax year 2016.
Omnibus Bill: Huge Wins for Affordable Housing
Shortly after midnight, the House and Senate tax writing committees released the text to a bipartisan agreement on tax extenders. The 2016 Omnibus also showed HOME receiving $950 million, $50 million more than fiscal 2015 appropriations. After threats to significantly cut the program in the Senate, NAHB worked with members of Congress to ensure that HOME stayed intact.
Senate Panel Approves NAHB Priorities as Part of Tax Extenders Package
The Senate Finance Committee today voted 23-3 to renew scores of temporary tax provisions known as tax extenders that expired this year, including all those of interest to the housing community. In general, the provisions are granted a two-year retroactive renewal through the end of tax year 2016, dating back to the start of 2015.
NAHB Delivers in Lackluster Congress
Though the 113th Congress is destined to be the least productive legislative session in 40 years in terms of laws passed, NAHB was able to achieve considerable victories for its members.
