This is the final installment in a five-part series in which Realty Times has reprinted as a public service responses by the two presidential candidates to question posed to them by the National Association of Home Builders and the National Association of Realtors. Today's Q&A was first reported in the September issue of NAR's official journal, Realtor Magazine.

Question: States and localities are looking at increased property taxes among other measures to pay for their increased responsibilities under federal initiatives such as homeland security. What steps would you take to promote an equitable sharing of this growing burden?

PRESIDENT BUSH: To aid states with their budget shortfalls, Congress approved $20 billion in payments to the states in 2003. And the record federal tax relief we've passed is leaving more money in the hands of families, helping economic growth, which improves state and local budgets so they don't have to raise taxes.

Although property taxes in some municipalities are increasing, tax rates in some areas are falling in response to the strong and steady growth in property values. The record level of home ownership in our country indicates that people can afford homes and current property tax rates.

My administration hasn't imposed any unfunded mandates on the states for homeland security purposes.

SENATOR KERRY: My proposal for a State Tax Relief and Education Fund would provide $25 billion to help states bridge deficits. I will create a National Education Trust Fund to make sure the federal government meets its obligation to fund our education priorities. And my health care plan makes a new deal with the states: The federal government will pay the entire cost for children on Medicaid and assure that all eligible children are automatically signed up if states will pay their share to expand their children's health programs to higher-income families and expand coverage to parents and single adults.

Question: The Office of the Comptroller of the Currency in early 2004 published rules preempting anti-predatory lending laws and other state measures regulating federally chartered banks and their operating subsidiaries. What's the proper balance between states' rights to regulate entities operating within their borders and the federal government's interest in helping federally chartered businesses operate across state borders?

BUSH: The OCC clarified the uniform federal standards under which its banks must operate, and it outlined additional consumer protections available to national bank customers, including provisions that target predatory lending. The regulation also provides that national banks shall not engage in unfair or deceptive practices. Individual states would remain free to regulate state banks as they deem appropriate. My administration believes strongly in the dual banking system and the balance of responsibilities between federal and state regulators.

KERRY: I don't support the new OCC rules preempting many state laws protecting their citizens. Many states have enacted consumer protection laws dealing with predatory lending, fair debt collection practices, servicing rights, and fair housing. OCC's preemption of these laws is the wrong move.

Question: What's the federal government's role in promoting environmentally responsible residential and commercial construction techniques?

BUSH: The Department of Energy provided funding for the Rebuild America Program, which has formed more than 450 voluntary community partnerships to improve the energy efficiency of existing buildings. And the expansion of the EPA's Energy Star program will help reduce pollution from commercial buildings by encouraging energy efficient design. Also, my proposed National Energy Policy encourages construction of buildings that are more energy efficient.

KERRY: A Kerry administration will enthusiastically promote green buildings through certification programs, federal building design leadership, and building efficiency tax credits.

Question: What can the federal government do to help ease transportation gridlock that many communities are facing as distances lengthen between residents and their jobs?

BUSH: I proposed the Safe, Accountable, Flexible, and Efficient Transportation Equity Act (SAFETA) to help ensure that our transportation system is safe, secure, efficient and productive. Preserving flexible funding initiatives for states will allow them to direct funds to meet their state and local transportation needs.

Under the six-year SAFETEA proposal, highway funding will grow by 21 percent over the previous six-year bill, TEA 21. The Federal Highway Administration is working to deploy the Intelligent Transportations Systems infrastructure in more states to improve pavement condition, bridges, and infrastructural investment decisions.

To target traffic choke points, I have proposed an infrastructure program that would provide funding for "ready-to-go" projects to alleviate congestion.

KERRY: The federal government can coordinate its transportation policies, housing policies, facility placement, employment practices and land acquisition in ways that more effectively take into account local efforts to reduce congestion, preserve green space, and improve quality of life. It can also play a leadership role in spurring brownfields redevelopment and mass transit, which can help make our communities more livable while increasing access to home ownership.

Reprinted from the September 2004 issue of REALTOR Magazine by permission of the NATIONAL ASSOCIATION OF REALTORS. Copyright 3004. All rights reserved.

Published: September 17, 2004

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