26
May
Real Estate Industry Unified Against White House Tax Proposals
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.
Click Here to view more from NAHB, including the real estate industry’s joint letter to Congress.