2016 Post Election Update
LOUISIANA REALTORS • December 1, 2016
2016 Post-Election Update
AMERICA ELECTED REPUBLICAN DONALD TRUMP AS OUR NEXT PRESIDENT, AND REPUBLICANS KEPT CONTROL OF BOTH THE U.S. SENATE AND U.S. HOUSE OF REPRESENTATIVES. REALTORS WILL CONTINUE TO BE FOCUSED ON REAUTHORIZING FLOOD INSURANCE AND MAINTAINING KEY PROVISIONS IN THE TAX CODE THAT IS ESSENTIAL TO A STRONG REAL ESTATE INDUSTRY SUCH AS THE MORTGAGE INTEREST DEDUCTION. IT IS EXPECTED THAT REPEALING OR AMENDING OBAMACARE IS AT THE TOP OF THE AGENDA IN 2017. IN LOUISIANA, WE HAVE 3 RUNOFF ELECTIONS. FOR THE U.S. SENATE, REPUBLICAN JOHN KENNEDY WILL FACE DEMOCRAT FOSTER CAMPBELL. IN THE 3RD CONGRESSIONAL DISTRICT, THERE IS AN ALL-REPUBLICAN RUNOFF BETWEEN SCOTT ANGELLE AND CLAY HIGGINS. IN THE 4TH CONGRESSIONAL DISTRICT, REPUBLICAN MIKE JOHNSON AND DEMOCRAT MARSHALL JONES ARE ON THE BALLOT. REALTORS SUPPORTED THE LOUISIANA DELEGATION MEMBERS WHO WON REELECTION IN THE HOUSE OF REPRESENTATIVES – STEVE SCALISE (R-LA01), CEDRIC RICHMOND (D-LA02), RALPH ABRAHAM (R-LA05), AND GARRET GRAVES (R-LA06). TWO LOUISIANA REALTORS RUNNING FOR LOCAL RACES IN EAST BATON ROUGE PARISH ALSO ADVANCED TO THE RUNOFF IN DECEMBER – STATE SENATOR BODI WHITE (R) WHO IS RUNNING FOR MAYOR/PARISH PRESIDENT AND DWIGHT HUDSON (R) WHO IS RUNNING FOR PARISH COUNCIL.
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Louisiana REALTORS® CEO Norman Morris issued the following statement after SpaceX announced plans to invest $100 billion in a new launch facility in Vermilion Parish. The project is expected to create 3,000 direct jobs and more than 8,100 indirect jobs across Acadiana. “SpaceX’s investment is an extraordinary economic win for Louisiana. We congratulate Governor Jeff Landry, Louisiana Economic Development Secretary Susan Bourgeois, Vermilion Parish leaders, and everyone who helped bring this historic project home. The housing and infrastructure improvements needed to support more than 11,000 new job opportunities should generate a huge economic boost to the Acadiana and Gulf Coast region. According to the National Association of REALTORS®, each typical Louisiana home sale generates approximately $88,600 in economic activity. Even if only half of the new SpaceX related jobs lead to a home purchase, the impact would generate nearly half a billion dollars across our state's economy. That improves our tax base and school systems, and ripples through our economy touching builders, bankers, hardware stores, appliance dealers, contractors and so many more. “Housing is not downstream of economic development; it is an essential infrastructure. Louisiana REALTORS® and our partners stand ready to help turn these new jobs into homes, stronger communities and lasting roots in Louisiana. Economic development creates jobs, but housing turns those jobs into homes. Let’s make Louisiana home again, together.” Economic-impact estimates are illustrative calculations by Louisiana REALTORS® using employment projections from Louisiana Economic Development and the National Association of REALTORS®’ estimated economic impact per typical Louisiana home sale. They are not forecasts or recurring annual-impact figures. Enjoy the video below from the Louisiana Department of Economic Development .
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