Brown said now is also the time for lawmakers to stand up for homeownership and the value that it brings to the country by fostering communities, creating social stability, and helping build long-term wealth. He said lawmakers must preserve property and homeownership tax policies as they consider federal tax reform.
“Congress should do no harm to homeowners or housing markets by maintaining current federal tax policies,” said Brown. “Reducing or eliminating the current tax treatment would simply raise taxes on homeowners, who already pay 80 to 90 percent of U.S. federal income taxes.
“The nation cannot have a robust housing recovery, and therefore an economic recovery, until these important policy issues are addressed. The role of a REALTOR® goes far beyond the real estate transaction. As congressional leaders move ahead with reforms, REALTORS® are actively engaged in and committed to protecting America’s current and future homeowners and the homes in which they make memories and build their futures.”
For more information, visit www.realtor.org.
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