NAHB: Urge your Representatives to Vote for the Homeowner Flood Insurance Affordability Act

Call your Representative at
(866) 924-NAHB (6242)

The House of Representatives will soon be considering the NAHB-supported H.R. 3370, the Homeowner Flood Insurance Affordability Act. This bill addresses serious affordability concerns due to dramatic flood insurance premium increases, and if not corrected, will continue to severely impact the construction, remodeling, and sale of homes in many communities across the nation. This bill will provide certainty and financial stability to the National Flood Insurance Program.

H.R. 3370 provides a more affordable rate structure for policyholders, repeals the rate increases from the sale or transfer of homes, restores the substantial improvement threshold to the historic 50%, requires FEMA to create more accurate flood maps, and ensures that consumers can be reimbursed for successful map appeals.

Call to action:

  • Call your Representative at (866) 924-NAHB (6242)

Your ask:

  • Urge your Representative to vote YES on H.R. 3370, the Homeowner Flood Insurance Affordability Act.

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Did You Know? Housing Finance

Did you know that 91.2 percent of all new mortgages are backed by Federal government programs like Fannie Mae and Freddie Mac?  And now that our government has replaced private enterprise in the mortgage finance business, Congress wants to end the program.

You can help by telling Congress to take a more gradual approach to housing finance reform.  Click here to answer your HBA’s call to action on housing finance reform.

NAHB: Tax code rewrite threatens homeownership, rental housing, and home building

The U.S. Senate is considering revamping the tax code which could eliminate some or all housing tax incentives. The Senate Finance Committee recently announced it will consider comprehensive tax reform and initiate proceedings with a blank slate: no exemptions, deductions, or credits.

According to NAHB, this could harm the bottom line of all residential construction businesses, depress home values, impose a tax increase on home owners, and cause massive layoffs in housing and other industries

Many of the tax reform proposals have suggested eliminating or reducing the mortgage interest deduction, the Low Income Housing Tax Credit, the capital gains exclusion for home sales and the deduction of property taxes, among others.

NAHB has issued a Call-To-Action to HBA members asking them to contact their Senators and tell them to preserve housing tax incentives like the mortgage interest deduction and low income housing tax credit.  To act and contact your Senators, click here.