What the $2T Stimulus Package Means for You
LOUISIANA REALTORS • March 26, 2020
What the $2T Stimulus Package Means for You
The United States Congress passed a $2 trillion COVID-19 economic relief package on March 27, 2020 with overwhelming bipartisan support. The National Association of REALTORS® released a summary on how these programs will be implemented. When more guidance is released from state and federal entities on how these new programs will be implemented, we will update this page.
REVIEW THE SUMMARY
Families First Coronavirus Response Act
Impact of H.R. 6201 "Families First Coronavirus Response Act"
Congress has passed the Families First Coronavirus Response Act (H.R. 6201) providing support to American workers, families, and businesses, including the expansion of paid sick leave and family medical leave. It also includes refundable tax credits for small businesses and self-employed individuals to cover the cost of the leave. While this legislation mainly addresses employment issues, the National Association of REALTORS’ advocacy team expects legislation targeting the overall economy to come later.
Louisiana REALTORS® encourages you to reach out to your tax professional to determine if this act can assist you or your business during this trying time.
NAR is pleased to share the latest consumer guide focused on state and local tax (SALT) deductions . This guide explains federal tax law changes that temporarily quadruple the amount of state and local taxes (SALT) that taxpayers can deduct and will make homeownership more accessible and affordable, especially for people in higher-tax states. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days 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: Assistance Programs Real Estate Auctions Working with a Real Estate Attorney Making Your Home More Energy Efficient Buying a Historic Property 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 next week’s guide on August 6, which will cover packing tips and tricks.
The Louisiana REALTORS® Board of Directors will elect six (6) LR At-Large Directors at its October 8th meeting. Qualifications and an application for the position can be found below.
From flood zones to hurricane season, Louisiana clients have big questions. Learn how REALTORS® can confidently respond with local insights that build trust and close deals.
