Connecticut Realtors president: GOP tax bill is ‘just disastrous for us’

As the Republican tax bills work their way through Congress, real estate industry leaders in Connecticut are warning of potential troubles. “For Connecticut, this tax bill is particularly onerous,” Michael Barbaro, president of the Connecticut Association of Realtors, told Greenwich Time. “If you take away the ability of people to write off taxes and mortgage interest, you’ll start to see increased migration out of the state. This is just disastrous for us.” The House version of the tax bill caps the mortgage interest deduction for new homes at $500,000, and both the House and Senate versions roll back incentives to build affordable housing. [Greenwich Time]