NAHB Cuts Off Congress

Last Monday in Orlando (Feb. 11, 2008), The National Association of Home Builders announced that it had cut off all political contributions to members of Congress, saying there would be no more money until the government took action on the economy.
NAHB President Brian Catalde made the announcement at the International Builders Show.
“Today, the National Association of Home Builders’ Political Action Committee, BUILD-PAC, and its 150-member Board of Trustees representing all 50 states, agreed to cease all approvals and disbursements of BUILD-PAC contributions to federal congressional candidates and their PACs until further notice,” Catalde announced.
“This extraordinary action was taken because the NAHB BUILD-PAC Board of Trustees felt that over the past six months Congress and the Administration have not adequately addressed the underlying economic issues that would help to stabilize the housing sector and keep the economy moving forward.
“Housing and related industries account for more than 16 percent of the Gross Domestic Product. More needs to be done to jump-start housing and ensure the economy does not fall into a recession. This action will remain in effect until further notice.”
In the current political cycle, NAHB Build-PAC already has contributed an estimated $1.5 million to congressional candidates, both Republicans and Democrats.