Tax reform is done—so what’s next for the National Association of REALTORS® advocacy team in the second half of the year? Check out the ‘Advocacy Scoop’ to learn more about how the NAR policies were impacted by the passage of the latest tax bill.
In this episode of the NAR podcast, advocacy leaders Shannon McGahn and Patrick Newton share how the policy team is working to ensure NAR’s tax provisions are implemented effectively. They also discuss efforts with Congress and the Administration to address inventory shortages and improve housing affordability.
Plus, there’s a lot happening at the state and local level—did you know more than two-thirds of NAR’s advocacy work takes place outside the Beltway?
Check it out HERE
More on ADVOCACY Resources HERE
Episode recap:
In this episode of Advocacy Scoop, NAR leaders Patrick Newton and Shannon McGahn recap the passage of major tax reform and outline the association’s advocacy priorities moving forward. The new law permanently secured NAR’s top tax priorities, including the qualified business income deduction (199A), state and local tax relief, lower indexed individual rates, and the mortgage interest deduction cap at $750,000, while preserving the 1031 like-kind exchange. Additional benefits include enhancements to the low-income housing tax credit and opportunity zones. Making many of these provisions permanent avoids the repeated expirations and legislative battles seen after the 2017 reforms. Implementation now shifts to the Treasury and IRS, where NAR’s policy team will remain engaged to ensure the new provisions work for members and the real estate economy.
Looking ahead, NAR’s advocacy will focus on tackling inventory shortages and affordability through both federal and state-level initiatives. Potential next steps include advancing bipartisan legislation like the More Homes on the Market Act and the Neighborhood Homes Investment Act, possibly through future budget reconciliation bills. At the state and local levels, NAR is promoting smart zoning, opposing rent control, and sharing a 40-policy Housing Supply Accelerator Playbook with municipalities. The episode closes with a spotlight on reforming the “home equity tax” (capital gains on home sales), which NAR argues discourages older homeowners from selling and constrains inventory. Proposals to raise the exemption limits enjoy bipartisan support, with the goal of freeing up housing, boosting the economy, and improving affordability for first-time buyers.