By: Guest Author, Virginia REALTORS® Vice President of Political Operations, Anthony Reedy
Even though our national elected officials continue to slog through the aftermath and debate of the federal government shutdown, NAR’s advocate efforts on behalf of REALTORS® are in full force.
NAR recently released its 2019 Advocacy Agenda, which includes a variety of initiatives important to you, your clients, and property owners.
A big victory already announced this year is the Treasury Department and the Internal Revenue Service ruling that allows more real estate professionals to take advantage of the up to 20 percent deduction on qualified business income for pass-through business entities in the 2017 Tax Cuts and Jobs Act.
Other policy efforts include:
- Indexing the Mortgage Interest Deduction to inflation so the current cap on loan value of $750,000 doesn’t pinch homeowners in future years.
- Passing long-term National Flood Insurance Program reauthorization and include meaningful reforms that open the door to private market flood insurance and modernize flood mapping and mitigation investments.
- Pushing for more reforms on Association Health Plans that could allow our members more choices when searching for health insurance.
- Strengthening federal mortgage programs to ensure access to mortgage credit that is available to all Americans, in particular, groups traditionally underserved by the private market, including low to moderate-income, minority, and first-time homebuyers.
Check out NAR’s 2019 Advocacy Agenda website for more information.