|NAR Focused on New Congress|
The National Association of REALTORS® is gearing up for what is expected to be a busy first three months of the legislative session as a new Congress and new Administration tackle a number of priorities affecting real estate.
Health Insurance Reform: NAR is prepared to represent the interests of REALTORS® and real estate companies as the debate to repeal and replace the Affordable Care Act begins. NAR favors retaining certain aspects of existing laws that benefit REALTORS® -- including not letting insurers deny coverage to people who have a preexisting condition, preventing insurers from charging markedly different premiums based on factors such as age, gender and health status, and allowing people to keep their children on their plans up to age 26.
Tax Reform: NAR's priority is to preserve longstanding tax incentives for home ownership and real estate investments, including the mortgage interest deduction and property tax deductions. On the commercial side, preserving 1031 like-kind exchanges is paramount.
Flood Insurance: Another pressing priority for NAR will be getting the National Flood Insurance Program reauthorized before it expires at the end of September. NAR is seeking another long-term reauthorization combined with additional reforms to increase the accuracy of flood mapping, provide financial assistance for more homeowners to mitigate their risk before a flood occurs, and develop a more robust private insurance market.
Click here to read more about NAR's legislative efforts.