The House is expected to vote on the final tax reform bill at 1:30pm today. The Senate will begin debate once the bill clears the House. NAR remains neutral on final passage. NAR President Elizabeth Mendenhall issued the following statement following the release of the conference committee report:
“We remain concerned that the overall structure of this bill poses problems for homeowners and the broader housing market, but the conference committee has made some important improvements to the House and Senate legislation that ultimately will benefit some homeowners and communities. We are particularly pleased with the treatment of capital gains on the sale of a home and the preservation of deductions for second homes. We are also grateful that the positive changes for commercial real estate and real estate professionals from the Senate bill have survived.”
To access the full NAR issue brief on the conference report, click the image below.
