WASHINGTON — The National Association of Home Builders, one of the top 10 corporate donors to politicians, has stopped contributing to congressional candidates after it failed to get what it wanted in recent anti-recession legislation.
The powerful lobby said Tuesday that it was taking the unprecedented action of halting its campaign giving to protest Washington’s failure to address “the underlying economic issues that would help to stabilize the housing sector and keep the economy moving forward.”
The group did not mention any specific initiatives, but the association had unsuccessfully pressed lawmakers to adopt a provision to reduce the tax liability of homebuilders by allowing them to offset their past profits with future losses. The lobby had also pushed to expand a program that allows states and localities to issue tax-exempt bonds that finance low-rate mortgages.
