Housing aid plan pushed by homebuilders - KWWL - Eastern Iowa Breaking News, Weather, Closings

Housing aid plan pushed by homebuilders


WASHINGTON (KWWL) - Desperate homebuilders have come to Washington to offer their plan to revive the housing market.

The National Association of Home Builders brought in around 80 builders for meetings with lawmakers from their districts.

The builders are pitching a $150 billion plan to members of committees that will handle President-elect Barack Obama's economic rescue package.

Builders want a package of subsidies that would bring mortgage rates to just under 3 percent for the first half of this year. They also favor a tax credit of up to $22,000 for home purchases.

Online Executive Producer Nate Leding

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