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Realtors® Oppose Tax Plan to Limit Mortgage Interest Deduction, Real Estate Provisions
We are extremely disappointed with several of the provisions contained in U.S. House Ways and Means Chairman Dave Camp's tax reform draft released today, namely proposed limits on the mortgage interest deduction and capital gains, and the repeal of deductions for state and local property taxes. These proposed changes to the taxation of real estate will impact every single American, either directly or indirectly.
"NAR will carefully analyze the details of the Chairman's plan so we can best educate Congress and the public about how this plan would impact the owners, consumers, and producers of both residential and commercial real estate."
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Nebraska RPAC Contributions are not deductible for income tax purposes. Contributions to RPAC are voluntary and are used for political purposes. Corporate contributions and contributions from foreign nationals are prohibited. You may contribute more or less than the suggested amount. You may refuse to contribute without reprisal. 70% of each contribution is used by your state PAC to support state and local political candidates. Until your state PAC reaches its RPAC goal 30% is sent to National RPAC to support federal candidates and is charged against your limits under 2 U.S.C. 441a; after the state PAC reaches its RPAC goal it may elect to retain your entire contribution for use in supporting state and local candidates.
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