 Home sales could increase if a new bill in the U.S. Congress that encourages employers to offer housing assistance to employees is passed, potentially creating more work for Notary Signing Agents.
The Housing America's Workforce Act, introduced by Senators Hillary Rodham Clinton of New York, Mel Martinez of Florida and Gordon Smith of Oregon, would provide tax relief to working families by allowing them to exclude funds from employer-assisted housing programs from their taxable income. Currently, employees must list housing assistance received from an employer as taxable income.
In addition, the bill would establish a three-year program of competitive grants that the U.S. Department of Housing and Urban Development would award to non-profit housing organizations or local governments to assist in paying for the costs of administering the employer-assisted housing program.
The programs would allow employees who previously could not afford homes near their place of employment to purchase homes in those regions, said Al Mansell, President of the National Association of Realtors.
"Housing costs in many areas have far outpaced wage gains," Mansell said. "Employees are finding it increasingly difficult to live in the areas where they work. Many workers can only afford to live in areas geographically far from their place of employment."
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