The Real Deal New York

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

Real estate lobbyists spent over $11M in Q3
October 21, 2017 02:00PM

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.

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