For Immediate Release: September 10, 2009
Contact:  Michael O'Brien, (202) 367-1280
 
Association Urges Lawmakers to Act Swiftly Before Current Tax Credit Expires 

Washington, DC - The National Lumber and Building Material Dealers Association (NLBMDA) today called on Congress to expand and extend the homebuyer tax credit before it expires on December 1, 2009. NLBMDA's 6,000 member companies employ more than 400,000 American workers, but have faced significant challenges in light of the housing and economic crisis. The $8,000 first-time homebuyer tax credit passed as part of the American Recovery and Reinvestment Act (ARRA) earlier this year has provided a powerful incentive to spur home purchases, resulting in some positive signs of recovery this summer. Now that Congress has returned from its summer recess, NLBMDA is urging legislators to make housing a priority.
 
Specifically, NLBMDA has urged the Senate Finance Committee and the House Ways & Means Committee to support and pass legislation such as that introduced by Sen. Johnny Isakson (R-GA), S. 1230, that makes the credit available to all prospective homebuyers and extends its availability for home purchases through November 30, 2010.  The bill has support from across the political spectrum, including Banking Committee Chairman Chris Dodd (D-CT).
 
"We are just beginning to see the positive effects of the existing new home buyer tax credit and extension of the credit will enable the industry to restore jobs and revive our economy," said NLBMDA President and CEO Michael O'Brien. "Making the credit available to all prospective home buyers to increase its use should be a priority as the Committee considers tax legislation this fall."
 
NLBMDA will ramp up its Washington advocacy and grassroots efforts this fall to achieve an expansion and extension of the home buyer tax credit that will pave the path to recovery for our nation's housing sector and economy as a whole.

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The National Lumber and Building Material Dealers Association (NLBMDA) represents its members in the national public policy arena, with emphasis on efforts to 1) promote the industry and educate legislators and public policy personnel; and 2) assist legislative, regulatory, standard-setting and other government or private bodies in the development of laws, regulations and policies affecting lumber and building material dealers, its customers and suppliers. Founded in 1917, the association has over 6,000 members operating single or multiple lumber yards and component plants serving homebuilders, subcontractors, general contractors, and consumers in the new construction, repair and remodeling of residential and light commercial