Time is quickly running out on the $8,000 Federal homebuyer tax credit, the federal program that has been remarkably successful in bringing buyers back to the home market. To keep the momentum going, we need Congress to extend and expand the homebuyer tax credit. It's the best way to create jobs, speed recovery of the home building industry, and get the economy back on the road to recovery. However, to stress the importance of the homebuyer tax credit, South Carolina’s congressmen need to hear from you, the voters. Every member of the HBA – builders and suppliers – needs to contact their Senators and Congressman today!

One of the most effective measures to stimulate the housing market is the extension and expansion of the homebuyer tax credit. This would bring consumers back to the market, reduce inventories of unsold homes, and stabilize home values. Most importantly, it will create hundreds of thousands of desperately-needed jobs. The Home Builders Association supports action to:

• Extend the credit for home purchases for one year (November 30, 2010);
• Expand the credit to all buyers of a principal residence;
• Maintain the current $8,000 maximum tax credit amount.

In the coming year, National Association of Home Builders estimates that an extended and expanded homebuyer tax credit will:

• Create more than 350,000 jobs nationally - put Americans back to work;
• Generate $16.1 billion in wages and salaries and $12.1 billion in business income;
• Increase home purchases by 383,000, stabilize housing market and reduce housing inventories;
• Increase new housing starts by 82,000; and
• Increase tax revenues - $8.4 billion for the federal government and $3.2 billion for state and local governments.

Click here to read a one-page analysis of the NAHB tax credit proposal.

Click here to see our national message that ran in Wednesday's Wall Street Journal and USA Today.

CALL TO ACTION

• Write Congress today by visiting www.capitolconnect.com/builderlink.
• You may also call your members of Congress toll-free at 1-866-924-6242.
• Let us know what you are hearing from your senators and your representative by filling out the Congressional feedback form, by emailing us at builderlink@nahb.com or by calling us at (800) 368-5242 x8475.

We must make our voice heard loud and clear: HOUSING = JOBS! Your quick response to this urgent request is greatly appreciated.