Real estate lobbyists set new spending record ahead of tax code overhaul

Real estate lobbyists spent over $11M in Q3

Last quarter's bill establishes a new spending record for the National Association of Realtors. (Pexels)
Last quarter's bill establishes a new spending record for the National Association of Realtors. (Pexels)

Ahead of the release of Trump’s “largest tax cuts in U.S. history,” real estate lobbyists spent more than $11 million to influence the writers of the new code.

The Q3 bill establishes a new record for the National Association of Realtors and means real estate groups were behind about a third of lobbyist spending last quarter.

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The main issue realtors were dropping dollars for was the preservation of tax breaks on home mortgage interest. Secondary concerns included keeping tax incentives for state-level and local taxes in place because, the NAR and its coalition partners say, they maintain affordability.

[Bloomberg News] — E.K. Hudson