NAR Letter to Representative Stakeholders Regarding Opposition of HR 1662
Issue Date: May 05, 2015
US HR 1662 - Common Sense Housing Investment Act of 2015
On May 5, 201 NAR sent a letter to current cosponsors of H.R. 1662 (the Ellison MID Bill) as well as all members of the Congressional Progressive Caucus. The letter posits that H.R. 1662, if enacted, would jeopardize the ability of millions of American families to afford a home, cause a severe blow to the net worth of middle-class Americans, and endanger the overall health of the housing market.H.R. 1662 would lessen the value of the Mortgage Interest Deduction to millions of current and prospective homeowners and divert the resulting revenue to the National Housing Trust Fund and the Capital Magnet Fund.