Earlier this month, the National Association of REALTORS® launched a Call for Action
(CFA) to urge REALTORS® to tell federal lawmakers not to harm homeowners as they move forward with plans to reform the nation’s tax code. The CFA is expected to run until Congress breaks for Thanksgiving.
NAR supports tax reform that helps as many people as possible, but the framework that’s being discussed on Capitol Hill raises concerns because of its impact on middle-income homeowners, and plan’s potential to wipe out the tax benefits of owning a home for 95% of American families.
NAR has taken a firm stance against several key provisions included in the plan that would negatively impact the housing market and wealth of homeowners nationwide. Specifically, REALTORS® oppose changes to the current tax code would eliminate the deduction for state and local property taxes and would nearly double the standard deduction while eliminating personal dependency exemptions.
For more information on this issue, the Call For Action, and how it impacts our industry, visit the NAR’s tax reform homepage
and view the latest edition of The Voice for Real Estate
We urge you to participate in this call for action and to please consider supporting
the REALTORS® Political Action Committee