Real Estate Industry Unified Against White House Tax Proposals

Filed in Advocacy, Housing Affordability, Tax Reform by on May 24, 2021 5 Comments

NAHB, along with the major real estate trade associations representing both the commercial and residential real estate sectors, pushed back in identical joint statements to the House Ways and Means Committee and the Senate Finance Committee on tax increases proposed as part of the Biden administration’s push on infrastructure.

The submission focuses on changes that would directly and negatively affect real estate, including limiting 1031 Like-Kind Exchanges; doubling the long-term capital gains tax rate; eliminating carried interest; and significant increases to the estate tax.

NAHB continues to engage with Congress on potential tax changes that may be included in an infrastructure bill, and we are pleased to stand as part of a united real estate sector against changes that will increase the cost of real estate, particularly in light of the nation’s housing affordability crisis.

The administration’s tax plan faces an uncertain future as no Republicans are expected to support it, and proceeding forward with only Democrat support will be challenging with the slim majorities they hold in the House and Senate.

View the joint letter to Congress.


Comments (5)

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  1. Gina Farrell says:

    We need to truly focus the nations affordability crisis and not allow this government to ruin what the United States of America is truly about. Dreams

  2. Trevor Hall, Jr. says:

    If tax rates must go up, they should be phased over a period of years. That way we can adapt and plan. The two big tax law changes in the 1980’s caused major disruptions in CRE. That which governs best governs least.

  3. Rosty Caryk says:

    Maybe we should be a little more concerned with our government’s revenue stream and deficit issue rather than personal profits. We have had a very good run for many years while letting infrastructure fall into disrepair. Investing back into the country with some increased taxes on upper income people and corporations would be a small price to pay to get us back on track.

  4. Bob DiBella - Consultant says:

    I highly recommend you read the letter attached to this story. It’s important that we support our associations in their fight for our countries economic future.

  5. Estate Pro says:

    Very relevant information! I hope the tax changes will lead to better things. But we should definitely focus on that.

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