Fortunately the House of Representatives has not included the carry-back provision in its version of a housing stimulus. Presumably the House will pass its housing legislation within the next two months. If it does the two chambers will meet to reconcile the two separate bills and agree to a compromise. House Leaders should insist that, at a minimum, the carry-back provision be dropped from the build. Otherwise, our politicians and bureaucrats could set a negative precedent for businesses, reinforcing irresponsible behavior and further aggravating the housing crisis.
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