The House approved the Build Back Better Act, legislation that the National Association of Home Builders (NAHB) said contains positive housing provisions but also includes other elements detrimental to the residential construction sector that caused the organization to oppose the overall package.
In a letter sent to House leaders prior to the vote, NAHB said: “While this bill represents a historic investment in our nation’s housing, NAHB is concerned the tax increases, new building and energy code requirements and increased fines and penalties for OSHA violations would be detrimental to the housing industry during a critical phase in our nation’s economic recovery.”
NAHB explained that the Act includes several provisions good for housing, especially the $150 billion in new funding that will support the creation and renovation of affordable housing across the country.
However, NAHB said it opposes the "onerous tax and code requirements that would hurt small business owners and worsen housing affordability."
It is unclear if the Senate will pass the Build Back Better Act “as is” or modify the bill and send it back to the House for another vote, NAHB noted.
If the Senate moves to alter the legislation, NAHB said it will advocate for changes that are beneficial to the housing industry.
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