NAR sent a letter to the White House this week, urging further relief during the pandemic. The letter included a number of provisions to help REALTORS® and real estate remain a strong force in our economy. The proposals included:
- Reforms to the PPP program (some of which were subsequently passed into law).
- A reduction in the minimum loan amount for financial relief under the Federal Reserve Main Street Lending Program to allow more small businesses and non-profits to access yet another avenue of financial assistance that may better fit their business needs.
- Support for liability protections for businesses that reopen following federal and state guidelines.
- Housing relief for renters including emergency rental assistance, as well as relief for rental housing providers.
- Expansion of forbearance and unemployment assistance.
- Reforms to the opportunity zones program to encourage investment.
- Elimination of the marriage penalty in the State and Local Tax (SALT) deduction.
- Support for the remote notarization legislation.
NAR continues to work with the Administration and Congress on common sense solutions that provide relief during these unprecedented times.