Suggested changes in the tax code have those in the housing industry worried. Among other things, the recently finalized presidential commissionreport proposes cutting the number of income tax brackets from six to fourand eliminating interest deductions for home equity loans and second homes. In its weekly e-mail newsletter, the NAHB (National Association of HomeBuilders) condemned the proposal, calling it "the biggest tax hike ever proposed." The NAHB executive vice president and CEO Jerry Howard claimed that in addition to making taxes higher, the proposal would reduce home values. "It would send a chill through the housing industry, which has been leading the economic expansion for the past three years," he said in the newsletter.The White House isn't obligated to follow the recommendation. Although early reaction seems to be that the proposal is doomed, it's worth tracking.