SAN DIEGO -- The nation's home builders today called on Congress to move promptly to enact the emergency financial rescue plan proposed by Treasury Secretary Henry Paulson that is designed to stabilize worldwide financial markets and restore consumer and investor confidence in the U.S. economy.
During its board of directors meeting in San Diego, the leadership of the National Association of Home Builders (NAHB) unanimously called on Congress to act now before conditions deteriorate to a point that could trigger a global financial meltdown.
"We agree with Fed Chairman Bernanke and Treasury Secretary Paulson that immediate steps need to be taken to stem the financial crisis. The financial markets are in turmoil and the flow of credit has been severely curtailed for housing and other sectors of the economy," said NAHB President Sandy Dunn, a home builder from Point Pleasant, W.Va. "There's no time to waste. Congress must pass legislation as soon as possible."
Dunn is urging the 235,000 members of the association to immediately contact their congressional delegations and ask them to adopt the plan now.
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