Over the next several weeks, Congress will be working on a compromise to avoid falling off the fiscal cliff. A compromise could weaken the mortgage interest deduction and other important housing tax incentives, and raise taxes on small businesses. Any change to the mortgage interest deduction will lower home values and stall the fragile housing recovery. Increased taxes on small businesses, the engine of economic growth, will slow job creation.

Congress needs to “do no harm” to the tax code over the next few weeks. Any tax changes should be deliberated in the newly-elected Congress in an open process with a full understanding of the consequences of these tax changes.

Call to Action:

Urge your members of Congress to:

  • Maintain housing tax incentives within the tax code
  • Maintain the current tax rates on small businesses
  • Deliberate tax changes in 2013 with the newly-elected Congress in an open process

 If you have any questions please email BuilderLink@nahb.org.