NAHB supports nominee for new Treasury chief

The nation's home builders in December praised President Bush for selecting John Snow to be the new Treasury secretary, according to a news release by the National Association of Home Builders.

The NAHB said the nomination sends a clear signal that the Administration is committed to a pro-growth, pro-jobs agenda that will help boost economic growth.

"John Snow is the right man for the job of Treasury secretary and his appointment will help to strengthen the current economic recovery," said Gary Garczynski, president of the NAHB.

Garczynski said the NAHB will continue to work with the administration and the new Treasury chief to keep housing and the economy moving forward in 2003.

"Housing, which accounts for about 14 percent of the nation's Gross Domestic Product and drives other closely related sectors of the economy, has remained a pillar of strength for the economy, creating millions of jobs each year and generating billions of dollars in tax revenue," Garczynski said. "NAHB looks forward to working with John Snow to pursue sound fiscal and monetary policies that keep housing and the economy on track and to keep long-term mortgage interest rates at low levels."

As chairman of CSX Corporation, Snow helped build the firm into one of the nation's largest and most successful railroad companies. He is an economist and lawyer who served in several positions in the Ford Administration, is a former chairman of the influential Business Roundtable, and is highly respected on Wall Street and on Capitol Hill, Garczynski said, adding "We look forward to working with John Snow and the Administration to help advance minority homeownership initiatives in the 108th Congress, particularly President Bush's homeownership tax credit plan."