Senate Fails to Advance NAHB-Supported Tax Bill
On Aug. 1, the Senate failed to garner the necessary 60 votes on a cloture motion that would have allowed the chamber to move forward and consider an NAHB-supported tax bill called the Tax Relief for American Families and Workers Act of 2024.
This tax legislation would expand the Low-Income Housing Tax Credit (LIHTC), extend the 100% Bonus Depreciation, increase the maximum amount a taxpayer may expense under Section 179 of the tax code, and increase the threshold for information reporting on Forms 1099-NEC and 1099-MISC.
NAHB designated support for this cloture motion as a key vote, which is our highest level of support. And our lobbying team reached out to every Senate office to encourage them to vote for the cloture motion.
Though the measure passed the House with a huge bipartisan vote back in January, it has languished in the Senate because of Republican concerns regarding expansion of the Child Tax Credit.
Despite all the lobbying pressure brought to bear by NAHB and the business community, Senate Republicans did not change their perspective, and the cloture motion fell short of the 60 votes needed to move forward on the bill.
The fact that Senate Majority Leader Chuck Schumer (D-N.Y.) scheduled this vote one day before the Senate was scheduled to recess until Sept. 9 was a good indicator that he expected the motion to fail. If the cloture motion had passed, the Senate would have started consideration of the tax bill, which would have taken up to a week to complete.
NAHB will work to revive this bill in the lame duck session after the November elections. At a minimum, we will urge lawmakers to consider some elements of this tax package, including the LIHTC and other key business-related tax provisions.
This tax legislation would expand the Low-Income Housing Tax Credit (LIHTC), extend the 100% Bonus Depreciation, increase the maximum amount a taxpayer may expense under Section 179 of the tax code, and increase the threshold for information reporting on Forms 1099-NEC and 1099-MISC.
NAHB designated support for this cloture motion as a key vote, which is our highest level of support. And our lobbying team reached out to every Senate office to encourage them to vote for the cloture motion.
Though the measure passed the House with a huge bipartisan vote back in January, it has languished in the Senate because of Republican concerns regarding expansion of the Child Tax Credit.
Despite all the lobbying pressure brought to bear by NAHB and the business community, Senate Republicans did not change their perspective, and the cloture motion fell short of the 60 votes needed to move forward on the bill.
The fact that Senate Majority Leader Chuck Schumer (D-N.Y.) scheduled this vote one day before the Senate was scheduled to recess until Sept. 9 was a good indicator that he expected the motion to fail. If the cloture motion had passed, the Senate would have started consideration of the tax bill, which would have taken up to a week to complete.
NAHB will work to revive this bill in the lame duck session after the November elections. At a minimum, we will urge lawmakers to consider some elements of this tax package, including the LIHTC and other key business-related tax provisions.
Latest from NAHBNow
Sustainability and Green Building
Oct 06, 2026
How NGBS Green +WELLNESS Can Help You Target Key Home Buyer Preferences
As people spend more time in their homes, more buyers — especially on the high end of the market — are focusing on how the home lives and functions through above-standard certifications such as water efficiency, indoor air quality and energy efficiency.
Workforce Development Advisory Council | Student Chapters
Oct 05, 2026
NAHB HBCU Cohort Learns Residential Construction Career Skills
NAHB’s fourth annual Historically Black College and University (HBCU) Student Leadership program held a three-day meeting for networking, professional development and learning in Washington, D.C. to inspire the next generation of home building professionals.
Latest Economic News
Economics
Oct 05, 2026
Two-Story Foyer Share Edges Up in 2025
In 2025, around a quarter of new homes were built with a two-story foyer, slightly up from 2024, according to data obtained from the Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB.
Economics
Oct 05, 2026
Trade Contractors Account for 42% of Associate Members
Every year since 2008, the NAHB has conducted a member census in order to better understand the composition and characteristics of the people who belong to its organization.
Economics
Oct 02, 2026
U.S. Economy Adds 29,000 Jobs in September as Prior Months Are Revised Down
The U.S. labor market cooled in September, with nonfarm payroll employment increasing by just 29,000 as downward revisions erased most of August’s previously reported strength. The unemployment rate edged up to 4.2%, as both employment and the labor force continued to grow.