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Sen. Graham Offers Support for Homeownership Tax Credit

Sen. Graham Offers Support for Homeownership Tax Credit

Following a May 6 address to the NAHB Executive Board, Sen. Lindsey Graham (R-SC) offered to support S. 198, homeownership tax credit legislation now pending in the Senate.

(For information on S. 198, click here and enter the bill number in the box at the upper left.) 

At the request of NAHB President Kent Conine, Graham pledged to sponsor the bill, which is one of the association’s top legislative priorities this year.

The measure would provide developers with tax credits to make it economically viable to construct or rehabilitate single-family homes in inner cities, struggling suburbs and isolated rural areas where affordably priced housing is in short supply.

During NAHB’s annual Legislative Conference the following day, drumming up support for the bill was one of the objectives of builders visiting Senate offices. At the time of Graham’s appearance before NAHB leaders, only three senators had signed onto the bill — Gordon Smith (R-OR), Rick Santorum (R-PA) and Debbie Stabenow (D-MI).

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In his address at the National Housing Center, Graham told builders that he would fight for the President’s economic stimulus plan.

“We need to grow this tax package to stimulate the economy and create jobs,” said Graham. “We need to give money back to the people so that they can afford to buy a house,” he said.

Graham was one of eight House and Senate candidates targeted last fall in NAHB’s voter mobilization effort, and the senator thanked the home builders for their support. “You came to a debate and did a TV commercial for me. You were terrific. You are a political force,” he said.

Photo by Herman Farrer
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