Builders push for tax incentives to boost housing

WASHINGTON The Bush administration's proposal to restore the capitalgains tax unfairly excludes housing and should not be passed in itspresent form, say the nation's home builders.

If housing is not included in the capital gains provisions, thepresent tax law should be retained, said Martin Perlman, first vicepresident of the National Association of Home Builders, in testimonybefore the House Ways and Means Committee.

Before 1986, gains on investments held longer than one year weretaxed at a lower rate than ordinary income. Since then, however, allincome is treated the same.

"One of the goals of the Tax Reform Act of 1986 was to create alevel playing field …