NBN Online for the week of December 5, 2005

Public Strongly Backs Current Housing Tax Incentives

Given a choice of simplifying federal tax laws or retaining current housing incentives, Americans resoundingly prefer the latter, according to a new nationwide survey of 1,001 adults.

Two out of three survey participants (68%) favor retaining deductions for mortgage interest and state and local taxes over a plan to change the current tax code, according to the polling conducted by RT Strategies on Nov. 17-20.

“The survey offers a cautionary note for those in the Administration and on Capitol Hill who may be tempted to endorse the recommendations of the President’s Advisory Panel on Federal Tax Reform, which would wipe out popular tax incentives that promote homeownership and affordable housing,” said Jerry Howard, executive vice president and CEO of NAHB.

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EPA Cracking Down on Storm Water Permit Enforcement

Home builders around the country are discovering that ignoring the U.S. Environmental Protection Agency’s requirements for federal storm water permits and Storm Water Pollution Prevention Plans can be harmful to their fiscal health.

The EPA has made the permits a national enforcement priority and is throwing more resources at compliance. When Wal-Mart paid $3.2 million in penalties and was required to institute extensive storm water management education programs within its development division, it made the headlines. Now, home builders are being slapped with big fines as well.

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