Real estate agents spent over $3.7M lobbying in 2Q
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WASHINGTON—The trade group for real estate agents spent more than $3.7 million lobbying the federal government in the second quarter as it pressed for measures to aid the hobbled housing market.
The Chicago-based National Association of Realtors, a major lobbying player on Capitol Hill, pushed hard for the housing bill signed by President Bush last month, particularly a temporary $7,500 tax credit for first-time home buyers and higher loan limits for mortgage finance companies
The bill also aims to prevent foreclosures by allowing homeowners to swap their mortgages for more affordable loans, but only if their lender agrees to take a loss on the initial loan.
The trade group also lobbied on other pieces of legislation, including bills affecting affordable housing, veterans and rural housing, appraisals, foreclosure prevention, small business health insurance and other insurance issues, according to a July 21 filing with the House clerk's office. The Realtors group spent more than $3.1 million lobbying in the first quarter.
Besides lawmakers, the trade group lobbied the departments of Agriculture, Interior, Housing and Urban Development, Homeland Security and Treasury, the Federal Deposit Insurance Corp., Federal Reserve and White House budget office in the April-June period.
