NAHB Suspends Political Contributions over Housing Discontent
The National Association of Home Builders said Wednesday that its political action committee will take its ball and go home, suspending contribution activity amid discontent over the current adminstration's handling of the housing crisis. The Home Builders' Political Action Committee, BUILD-PAC, and its 150-member Board of Trustees representing all 50 states, will cease all approvals and disbursements of BUILD-PAC contributions to federal congressional candidates and their PACs, said NAHB president Brian Catalde. "This extraordinary action was taken because the NAHB BUILD-PAC Board of Trustees felt that over the past six months Congress and the Administration have not adequately addressed the underlying economic issues that would help to stabilize the housing sector and keep the economy moving forward," Catalde said. "Housing and related industries account for more than 16 percent of the Gross Domestic Product. More needs to be done to jump-start housing and ensure the economy does not fall into a recession." For more information, visit http://www.nahb.org.