Real estate issues stand to be well represented in Congress over the next two years as REALTOR® Party-backed candidates on both sides of the aisle won closely watched races in yesterday’s national midterm elections.
NAR-backed Sen. Mitch McConnell (R-Ky.), who is poised to become Majority Leader in 2015 with the Republican takeover of the Senate, has been a strong supporter of the mortgage interest deduction, rural housing development, and other top real estate issues throughout his 30-year career.
“NAR congratulates Sen. McConnell and looks forward to working with him on real estate related policies important to REALTORS® and to all home and commercial property owners,” NAR President Steve Brown says.
McConnell had been in a tough race with Alison Lundergan Grimes, a business attorney in Lexington, but, as in several closely watched races throughout the country, the Republican ended up on the winning side.
On the crucial House Financial Services Committee, several real estate champions on both sides of the aisle retained their seats with strong support from the REALTOR® Party. These include Joe Heck (R-Nev.), Patrick Murphy (D-Fla.), and Kyrsten Sinema (D-Ariz.). In addition to receiving support for their campaigns from the REALTORS® Political Action Committee (RPAC), they also benefited separately from independent expenditures from the REALTOR® Party. These independent expenditures include mailings and other types of outreach that are undertaken separately from, and without coordination with, the candidates’ campaign efforts.
In the Senate, Pat Roberts (R-Kansas), who sits on the important Finance Committee, retained his seat with help from the REALTOR® Party independent expenditure program.
In all, the REALTOR® Party, which has been recognized as one of the most bipartisan national political operations in the country, charted a more than 90-percent win record in the elections, with wins coming on both sides of the aisle.