At the White House signing ceremony for the $350 billion stimulus bill,
Kent personally represented the nation's home builders. His participation in the May 28 event emphasized the important seat NAHB had at the table during the extensive negotiations leading up to that day.
Kent was proud to stand alongside the President as the third-largest tax cut in the nation's history became law. As previously reported, the Administration's proposal to eliminate double taxation of corporate earnings was replaced by the reduction in ordinary long-term capital gains tax rates that will also apply to dividend income. As such, the legislation does not harm the Low Income Housing Tax Credit program and actually creates an incentive for corporations to invest in LIHTCs. NAHB was the only housing organization involved in deliberations for the bill — a circumstance directly attributable to the reasoned, collaborative approach we adopted in this process. Read Monday's edition of Nation's Building News Online for details on the tax package.