House Democrats Suggest Putting Families Above Homebuilders

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House Democrats Suggest Putting Families Above Homebuilders

From Washington Post:

House Democrats are crafting a response to the nation's housing crisis that would offer tax breaks to homeowners, first-time homebuyers and developers of low-income housing but would not provide tax relief to the struggling homebuilding industry.

The measure, which is expected to be unveiled today, puts the House at odds with Senate leaders, who last week agreed on a bipartisan housing plan that includes billions of dollars in tax refunds for home builders, lenders and other money-losing businesses.

"We need to provide relief to the buyers and families themselves, not just the banks and builders," House Ways and Means Committee Chairman Charles B. Rangel (D-N.Y.) said yesterday in a written statement. "The House bill will put families first."

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