Coalition Letter to House Ways and Means and Senate Finance Regarding Section 1031 Restrictions

On September 3 NAR signed on to a coalition letter to Chairs Neal and Wyden of House Ways and Means and Senate Finance Committees. The letter emphasizes the important contribution that like-kind exchanges make to job creation, economic mobility, and other shared social and environmental objectives. New restrictions on section 1031 of the tax code, if enacted, would undermine the economic recovery and cause unintended and unnecessary risks to the strength and stability of U.S. real estate. The signatories urge the preservation of current law as it relates to like-kind exchanges.