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House democrats stiff homebuilders

Posted By Tom Jackson On March 25, 2009 @ 4:13 pm In Construction News | No Comments

Despite President Obama asking for it, democrats in the House of Representatives left out a proposal in the 2010 budget that would have expanded the net operating loss carryback window [1]for homebuilders. In plain language, the provision would have given homebuilders the ability to use recent red ink to offset taxable profits from previous years.

The National Association of Homebuilders hasn’t given up on the proposal and is actively lobbying Congress to allow it to apply the loss carryback provision to all business.

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[1] net operating loss carryback window : http://www.reuters.com/article/businessNews/idUSTRE52O6DC20090325

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