Dear Mr. President:
On behalf of the more than 140,000 members of the National Association of Home Builders (NAHB), we write to urge you to consider policy proposals to support the housing sector of the economy during the COVID-19 pandemic. NAHB’s members stand with you during these uncertain times and look to your leadership to help steer the American people and the national economy through uncharted waters.
Prior to COVID-19 hitting our shores, the U.S. economy was performing well, and the housing sector was a major contributor to a positive Gross Domestic Product (GDP). We are hopeful the solid underpinnings of the national economy can weather this national emergency; nonetheless, the federal government must take decisive action to support the housing sector, both for the homebuyers who power housing markets across the country and for the small businesses that build 80% of the new homes in America.
Attached, please find a list of policy proposals NAHB believes will help stabilize the housing sector in the near term. The proposals range from tax relief to boost business liquidity to flexibility for housing project completion to ensuring permits and financial documents can be completed in the telework environment. As we move through this unprecedented crisis together, we need bold, creative, common sense solutions.