Stop the Housing Tax for Transportation

Congress is considering a proposal that would create a tax on all potential homeowners and consumers looking to purchase or refinance a mortgage. This proposal, scheduled for consideration on October 22 by the House Transportation and Infrastructure Committee, would use Fannie Mae and Freddie Mac’s credit risk guarantee fees (g-fees) to fund the re-authorization of federal surface transportation (highway) programs.

By increasing Fannie Mae and Freddie Mac’s credit risk guarantee fees (g-fees) to fund transportation programs, Congress would disturb the housing recovery. Now is not the time to raise the cost to purchase or refinance a home.

NAR strongly believes that taxing homeowners to pay for transportation programs places an unnecessary long-term burden on consumers and this action will disproportionately impact low and moderate income borrowers, as well as first-time homebuyers.

Tell Congress to stop taxing homeowners to fund transportation projects.

Please click here to visit the REALTOR Action Center and help us take action!

Posted on October 19, 2015 at 12:44 am
Trish Englund | Category: Homeowners, Housing, Legislative, National Association of REALTORS, Seattle, Tax

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