Home builders cut off political funds

A construction worker builds a new home in San Ramon, Calif.

TEXT OF STORY

Scott Jagow: Political action committees have become a familiar part of the election cycle. They donate money, help candidates get elected, and hope for something in return. But one of Washington's biggest PACS has decided it's done with this business -- at least for this election. The National Association of Home Builders says it's cutting off money to politicians this year. Jeremy Hobson has more.


Jeremy Hobson: The Home Builder's PAC gave politicians almost $3 million during the last election. But they say Congress and the president have done little to address the housing crisis.

Jerry Howard: There's any number of things that they could undertake, but they've chosen to do nothing.

So the group's CEO Jerry Howard says candidates won't be getting any help this campaign cycle.

Massie Ritsch is with the Center for Responsive Politics, a campaign finance watchdog group.

Massie Ritsch: This was a fairly rare admission from one of Washington's biggest givers that money does indeed influence politics and policy, or at least that's the goal.

But Ritsch doesn't foresee Congress being cut off by any other big PACs any time soon:

Ritsch: They tend to listen most to those people who are willing to write them campaign checks, and there are many, many more interests who are happy to continue to fund Congress while the NAHB sits this one out.

In Washington, I'm Jeremy Hobson for Marketplace.

About the author

Jeremy Hobson is host of Marketplace Morning Report, where he looks at business news from a global perspective to prepare listeners for the day ahead.

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