The National Association of REALTORS® has claimed that the passage of the One Big Beautiful Bill Act in the House delivers significant victories for homeowners and real estate professionals. President Trump will now sign the legislation into law.
NAR said that the bill features five key priorities, which include:
- A permanent extension of lower individual tax rates.
- An enhanced and permanent qualified business-income deduction.
- A temporary, five-year quadrupling of the state and local tax (SALT) deduction cap beginning in 2025.
- Protection for business SALT deductions and 1031 like-kind exchanges.
- A permanent extension of the mortgage-interest deduction.
“These provisions form the backbone of the real estate economy — from supporting first-time and first-generation buyers to strengthening investment in housing supply and protecting existing homeowners,” NAR Executive Vice President and Chief Advocacy Officer Shannon McGahn said in a press release. “This bill reflects what happens when REALTORS® work together to educate lawmakers and advocate for policies that benefit every American.”
NAR also praised several other provisions in the legislation which it believed to be “real estate wins.”
- Increasing the child tax credit to $2,200.
- Making permanent the estate and gift tax threshold at $15 million.
- Provisions from the LIHTC Improvement Act supporting affordable housing.
- Revised incentives for Opportunity Zones.
- Restoration of certain business provisions, including R&D expensing, bonus depreciation and fixes to the interest-expense deduction limit.
- Expensing for certain industrial structures.
“For months, REALTORS® across America have been at the forefront of tax reform, making sure Congress understood that homeownership is not only the cornerstone of the American Dream but a foundation for building wealth and strengthening communities,” said McGahn. “We delivered that message backed by original research, trusted polling data and the real-world expertise of more than a million REALTORS® living and working in every ZIP code in America.”
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