CALL FOR ACTION: HELP IMPROVE TAX REFORM FOR HOMEOWNERS
Amy Fennell • December 4, 2017
REALTORS® are once again being asked to continue their efforts as advocates for homeowners and respond to the latest Call for Action on Tax Reform by the National Association of REALTORS®. The REALTOR® voice has positively influenced tax reform in some key areas this past month. 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.
REALTORS® 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. (See graphic below)
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. Be on the lookout for an email or text message alert or click the button below. You can also text "REALTORS" to 30644 to receive alerts via text message.
For more information on the issue: https://www.nar.realtor/tax-reform
Strengthen your position in Louisiana's real estate market with the GRI Designation.
NAR is pleased to share the latest consumer guide about contract contingencies and clauses that buyers and sellers may encounter in a real estate transaction. The guide defines common contingencies and clauses and helps consumers understand what happens if the terms aren’t fulfilled. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow up to two weeks for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Real Estate Contract Contingencies Understanding Condo Ownership How to Protect Against Real Estate Wire Fraud 5 Home Selling Tips for Privacy and Safety Do You Need Private Mortgage Insurance? What Is the VA Home Loan Guaranty? Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for the next consumer guide, which focuses on working with a remodeling contractor.
2025 Extraordinary Legislative Session Wrap-up
