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NAHB Reacts to Inflation Reduction Act08-16-22 | News

NAHB Reacts to Inflation Reduction Act

NAHB Issues Statement Condemning New Inflation Reduction Act, pitting NAHB against the ASLA again
by Staff

The NAHB recognizes there are positive provisions for housing but believes that the bad provisions outweigh the good

On August 12, 2022, the United States House of Representatives approved the Inflation Reduction Act. Whereas the American Society of Landscape Architects (ASLA) support this Act, the National Association of Home Builders (NAHB) do not agree.

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Specifically, the NAHB contested the addition of taxation requirements for real estate and would add new code requirements for buildings. According to the NAHB, these provisions would actually increase the price of real estate, defeating the entire purpose of an anti-inflation act such as this.

In a letter to the lawmakers involved in the Inflation Reduction Act, the NAHB said, "The legislation does nothing to address the housing supply crisis facing American families. Rather the bill will disincentivize multifamily construction, increase the cost of new homes through higher energy code requirements, and inflate labor costs." The bill is also expected to be signed by President Biden and has already been passed by the Senate.

https://www.nahb.org/blog/2022/08/inflation-reduction-act

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