Tax Reform is underway on Capitol Hill. The Senate has adopted a “Blank Slate” approach that initially eliminates every provision in the tax code, including those that encourage real estate ownership and investment.
Senators must submit their tax reform priorities to Senate leaders by July 26th. REALTORS® need to make their voices heard now so real estate provisions are on the top of the Senators’ lists.
When approaching tax reform, Congress should be careful not to inflict adverse consequences on either the economy or the unique legacy that homeownership and real estate investment have contributed to making our country prosperous.
REALTORS® must stand united that tax reform should above all “Do No Harm” and encourage Congress to retain tax provisions vital to real estate.