Senate Finance Committee Chairman Max Baucus and Maine Senator Olympia Snowe are sponsoring a measure expected to be included in the next major tax bill out of the Ways and Means Committee, enacting the five year tax loss carry back which was deleted from the economic stimulus legislation. Current rules permit loss carry back for only two years. The Homes for America Alliance, a group of 75 large and small home building contractors, has been formed to lobby in favor of this legislation.
The group was formed shortly after National Association of Home Builders President Jerry Howard sent a letter to Speaker Nancy Pelosi regarding the stimulus bill, in which Howard questioned the need for the extended loss carry back legislation. Tim Eller, CEO of Centex and head of the High Production Home Builders Council, have met several times with NAHB senior staff in efforts to smooth over Howard's lobbying gaffe. Since the firestorm within NAHB over Howard's letter, NAHB Chairman Joe Robinson has said that NAHB "fully supports" extension of the carry back to five years, but not every member builder is satisfied of the depth of NAHB's commitment to this new law. As a result, they formed HAA, and HAA has already hired two high powered Washington lobbyists to press for passage of the measure.
The group was formed shortly after National Association of Home Builders President Jerry Howard sent a letter to Speaker Nancy Pelosi regarding the stimulus bill, in which Howard questioned the need for the extended loss carry back legislation. Tim Eller, CEO of Centex and head of the High Production Home Builders Council, have met several times with NAHB senior staff in efforts to smooth over Howard's lobbying gaffe. Since the firestorm within NAHB over Howard's letter, NAHB Chairman Joe Robinson has said that NAHB "fully supports" extension of the carry back to five years, but not every member builder is satisfied of the depth of NAHB's commitment to this new law. As a result, they formed HAA, and HAA has already hired two high powered Washington lobbyists to press for passage of the measure.
