President Barack Obama signed into law H. R. 22, the “Fixing America’s Surface Transportation Act (FAST Act),” on Dec. 4, 2015. Thank you to the HAR members who responded to NAR’s Call for Action and sent a message to your Member of Congress. This five-year $305 billion highway bill is the first long-term national spending package in a decade. Congress has had a hard time passing traditional six-year highway bills lately,
Mortgage Debt Forgiveness Tax Relief Last week, by a vote of 378 to 46, the U.S. House of Representatives extended the income-tax exemption on mortgage debt forgiven in a short sale or a workout for principal residences.The Senate has not yet voted on the measure. Please encourage your colleagues to contact their senators if they have not yet done so. NAR will continue to ask members to send messages to
Members of the Houston Association of REALTORS® (HAR) joined forces with thousands of REALTORS® from across the United States who visited one-on-one with Members of Congress and their staff about issues critical to their businesses, communities and the consumers they represent during the REALTOR® Party Convention & Trade Expo held in Washington, D. C. the week of May 12-17, 2014. To help prepare members for their important congressional visits, the
Flood Insurance PAG Holds First Meeting - Will study impact of new flood insurance rules. Earlier this past summer, NAR President Gary Thomas appointed a Presidential Advisory Group (PAG) to investigate the impacts that federal legisation passed last year to reform the National Flood Insurance Program (NFIP) will have on the real estate industry and property owners. The PAG held its first face-to-face meeting in Washington, DC on Oct. 1-3.
The Issue U.S. Senators are considering sweeping tax reforms … and they’re starting with a blank slate. That means any current exemption, deduction, or credit in the tax code must be specifically presented to the Senate Finance Committee by July 26, or it will disappear. Next Steps Each Senator has been asked to submit, in writing, any tax expenditures they wish to see kept in the code. Senators have until