National Association of Home Builders slams Trump tax reform plan

TRD New York /
Nov.November 03, 2017 12:29 PM

The National Association of Home Builders (NAHB) gave a thumbs-down response to President Trump’s tax reform proposal this week. That’s because tax credits for mortgage interest and state property taxes are not a part of the bill, Curbed reported. The organization warned that removing these established incentives for buying a home would be harmful to the housing market. NAHB chairman Granger MacDonald called the plan “particularly disappointing” and said it would “severely diminish the effectiveness of the mortgage interest deduction.” President Trump’s plan would double the standard deduction, and the expectation is that more people would choose this route over itemized deductions such as the mortgage interest deduction. [Curbed]

Related Articles

(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

From left: David Levinson, MaryAnne Gilmartin and Rob Lapidus

Gilmartin splitting from Lapidus, Levinson

Burt Resnick

Burt Resnick, who headed major landlord Jack Resnick & Sons, dies

Recreational vehicles (Credit: iStock)

What #vanlife says about a possible recession

The beach in Tulum, Mexico, and Thor Equities Joe Sitt (Credit: Thor Equities LLC via Bloomberg)

Joe Sitt’s $100M plan for Pablo Escobar’s Tulum compound

Steve Roth and Miki Naftali with 1167 Madison Avenue and 50 East 86th Street (Credit: Google Maps)

Naftali buys two vacated Vornado properties for $71M