Call to Action! – Stop the Housing Tax for Transportation
Congress is considering a proposal that would create a tax on all potential homeowners and consumers looking to purchase or refinance a mortgage.
By increasing Fannie Mae and Freddie Mac’s credit risk guarantee fees (g-fees) to fund transportation programs, Congress would disturb the housing recovery. Now is not the time to raise the cost to purchase or refinance a home.
NAR strongly believes that taxing homeowners to pay for transportation programs places an unnecessary long-term burden on consumers and this action will disproportionately impact low and moderate income borrowers, as well as first-time homebuyers.
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