November 15, 2021
Real Estate

To Build Back Better, Congress should encourage real estate investment, not restrict options 

Tax season may still be months away, but for many Americans, a proposal to change a section of the tax code is keeping them up at night. The Biden administration is proposing to dramatically limit Section 1031 like-kind exchanges, used by all types of property owners – big and small – to improve properties and further invest in their communities. At a time when many businesses are still recovering from financial hardship felt during the pandemic, the proposed changes would substantially hurt the progress we have made to rebuild our economy. 

In April, the Biden administration unveiled the American Families Plan – a $1.8 trillion spending plan that outlined the administration’s key initiatives and how it would fund them. Among the many potential funding methods, the administration proposed placing a cap on the annual capital gains tax deferral afforded by Section 1031…

Read full article here: thehill.com