The Washington Report covers legislative and regulatory policy activities, and is compiled by NAR's Advocacy Group policy staff. To receive this content via email, subscribe to NAR's Member's Edge newsletter.
The proposed rule does not impact the classification of real estate professionals as independent contractors under the Internal Revenue Code (26 U.S.C. §3508).
NAR recently wrote to the National Economic Council in support of proposals that will spur federal action and incentivize state and local governments, and private actors, to boost housing supply and affordability.
The legislation would double the capital gains exclusion for sales of principal residences from $250,000 to $500,000 for single filers and from $500,000 to $1 million for married couples filing a joint tax return.
President Biden signed a continuing government funding resolution that extends the National Flood Insurance Program (NFIP) until December 16, 2022.
The purpose of the rule is to better assist regulators and law enforcement with combating money laundering, terrorist financing, and other illicit financial crimes.
NAR filed an amicus brief in support of a lawsuit claiming that the CDC's COVID-19 eviction moratorium constituted a physical taking under the Fifth Amendment.
NAR submitted a coalition letter to the White House National Economic Council urging a reduction of the FHA annual mortgage insurance premium. Learn more.
The Biden administration officially announced the cancelation of $10,000 in federal student loan debt for borrowers who make less than $125,000 a year.
When one considers all the real estate tax increase proposals that were recommended over the past couple of years, the final bill is very good for the real estate industry.
The Treasury Department announced updates to its guidelines for the State and Local Fiscal Recovery Funds (SLFRF) for uses aimed at increasing the affordable housing supply in the country.
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