608.240.2800     Email Us    
News

It is Not Too Late to Influence Congress on Tax Reform

 December 5, 2017      webadmin

Thanks to our members’ engagement, REALTORS® have helped positively influence tax reform in some key areas.  For example, both the House and Senate have agreed to maintain deductibility of state and local property taxes up to $10,000, and to maintain Section 1031 tax-deferred exchanges in their present form for real estate investments.

BUT OUR WORK IS NOT DONE.  We still have an opportunity to influence Congress to help make the tax reform bill more favorable to homeowners and consumers.  Now that both the House and Senate have passed The Tax Cut and Jobs Act, a Conference Committee will begin to address the differences between the two bills.  Important improvements in the legislation are possible by encouraging Congress to maintain the current law for the mortgage interest deduction and capital gains exclusion.  Retaining current law makes the bill more favorable to homeownership.

Take action to tell Congress to protect middle-class homeowners.

Take Action Now – Click Here

More information:
NAR Tax Reform Portal