NAR sent a letter supporting H.R. 2, a wide-reaching infrastructure bill last week, with a number of NAR-supported provisions.This bill combines significant investment in surface transportation and mass transit, broadband access, water infrastructure, affordable housing, and other important provisions to make these systems more resilient and sustainable.
NAR supported traditional infrastructure issues such as significant increases in direct federal investments in surface transportation and mass transit systems; an extension of the Highway Trust Fund through October 1, 2025; incentives to encourage high-density, transit-oriented development; streamlining the costly federal permitting process while continuing to provide critical environmental protections; resources for communities to develop systems to better manage, utilize, and control their water, wastewater, and drinking water resources; and resources for communities to make their transportation and infrastructure systems more resilient and sustainable.
In addition, NAR supports a number of provisions related to affordable housing including: reform and modernization of the Low-Income Housing Tax Credit; private investment in community development and affordable housing through private activity bonds and the New Markets Tax Credit; and resources to preserve, protect, and expand affordable housing in rural communities.
Lastly, NAR supported expanded broadband, as well as energy efficiency measures to extend and expand the 179D Energy Efficient Commercial Building Deduction and Home Energy Savings Retrofit Rebate Program.
The measure passed the House largely on a partisan basis. The Senate is expected to consider an infrastructure proposal later this summer, and NAR will work to see these provisions included.