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Home Builders to cut off contributions |
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By Kevin Bogardus
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Posted: 02/12/08 08:46 PM [ET] |
The National Association of Home Builders (NAHB) decided Tuesday to cut off contributions from its political action committee (PAC) to congressional candidates.
In a statement, NAHB President Brian Catalde said that lawmakers and the Bush administration over the past six
months “have not adequately addressed the underlying economic issues that would help to stabilize the housing sector and keep the economy moving forward.”
NAHB’s BUILD-PAC is a sizable player in Washington’s fundraising arena. During this election cycle so far, the PAC has given $1.2 million to other committees and candidates — 45 percent to Democrats, 55 percent to Republicans — according to CQMoneyLine. The PAC was responsible for $3.5 million in donations for mmidterm election candidates.
The housing industry was lobbying Congress for the economic stimulus package to include a provision that would help companies with losses to trim prioryear mtax bills. The effort failed.
“More needs to be done to jump-start housing and ensure the economy does not fall into a recession,” said Catalde.
Catalde said the ban on PAC contributions will remain in effect until further notice. |
