The National Association of REALTORS® and Louisiana REALTORS® strongly encourages REALTORS® to TAKE ACTION. Pending tax reform plans threaten to wipe out the tax benefits of owning a home for 95% of American families.
Congressional Action Needed
- Congressional Republicans and President Trump have promised the first comprehensive tax reform bill in more than 30 years.
- REALTORS® need to remind Members of Congress and their staffs that tax reform must not dilute the current real estate tax provisions vital to the housing market and the economy.
- REALTORS® reject proposals that repeal or weaken tax incentives to encourage homeownership. We need tax reform, but it must first do no harm.
Congressional Actions to Date
- Pending proposals would lower tax rates (including for corporations) and raise the standard deduction but pay for these changes by scaling back existing real estate tax provisions.
- Proposals that limit itemized deductions — even if not directly changing rules applicable to mortgage interest — could have serious negative consequences for homeowners.