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
Advocacy
Oct 23, 2026
Trump Issues Executive Order to Lower Housing Costs
President Trump on Oct. 22 signed an executive order to lower single-family and mortgage costs, and the Treasury Department released new institutional investor rules.
Advocacy
Oct 23, 2026
NAHB Commends President Trump’s Executive Order on Housing
NAHB Chairman Bill Owens issued the following statement today regarding President Trump’s housing executive order.
Latest Economic News
Economics
Oct 22, 2026
Share of New Homes with Decks Inches Upward
The share of new homes with decks inched upward, from an all-time low of 17.4% in 2024 to 17.8% in 2025, according to NAHB tabulation of data from the HUD/Census Bureau Survey of Construction (SOC).
Economics
Oct 22, 2026
State-Level Employment Situation: September 2026
State-level employment data for September continued to show a mixed labor market, with job gains and losses split across the county. Although national nonfarm payroll employment increased modestly, year-over-year job growth varied considerably across states
Economics
Oct 21, 2026
Nearly One in Three Construction Workers are Hispanic
Diversifying the construction labor force remains a key priority amid persistent skilled labor shortages. According to NAHB analysis of the 2024 American Community Survey, non-Hispanic White workers account for the majority of the construction industry at 55.8%. Hispanic workers now represent nearly one-third of the labor force at 32.8%, followed by non-Hispanic Black workers at 5% and non-Hispanic Asian workers at 1.8 %.