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NAR Releases New Summary on Tax Reform

NAR Releases New Summary on Tax Reform

NAR's Government Affairs has finalized a new summary of the "Impact of Tax Reform Options on Owner-Occupied Housing" report prepared for NAR by PwC.
 
The summary and report are being sent to Members of Congress as a follow up to the Hill Visits held during the 2017 REALTORS® Legislative Meetings & Trade Expo.

The summary document will be available on nar.realtor, Facebook, and Twitter this afternoon.

Background
NAR engaged PwC to review the impact of comprehensive tax reform that would lower and consolidate marginal tax rates to three rates with a top rate of 33 percent, double the standard deduction, eliminate all itemized deductions other than charitable contributions and mortgage interest, eliminate personal exemptions and the Alternative Minimum Tax, and cap the tax rate on pass-through business income at 25 percent.