On Tuesday I attended the NAR mid -year legislate meetings, trade show and then joined the Maryland FPC - (Federal Political Coordinator) team for the 2024 Hill visits.
My morning started by jumping into rush hour traffic to the Shady Grove Metro station. I arrived at the convention center and wandered around the trade show before meeting the other FPC's to take a bus to Capital Hill.
Our group from Maryland was divided up based on the representatives from our specific districts. Our group visited Congressman David Trone of the 6th district in Maryland.
After going through security in the Rayburn Building we made our way to Congressman Trone's office where we were able to discuss the NAR priorities with his Staff. We each took turns sharing experiences and explaining why each of our priorities benefit homeowners, potential homeowners and the housing market.
2024 REALTOR® Priorities
Ensure veterans maintain access to professional representation and can compete in the market by giving VA buyers the option to compensate their broker directly.
Cosponsor the bipartisan More Homes on the Market Act to incentivize more long-term owners to sell their homes by increasing the maximum amount of capital gains a homeowner can exclude on the sale of a principal residence and annually adjusting it for inflation.
Cosponsor the bipartisan Neighborhood Homes Investment Act to attract private investment for building and rehabilitating owner-occupied homes by offering tax credits that create a pathway to neighborhood stability through sustainable home ownership. Providing this powerful incentive to build and rehabilitate homes for low- and moderate-income homeowners can fill the gap in areas where it is often more expensive to develop or rehabilitate than appraisal values will support
Cosponsor the Affordable Housing Credit Improvement Act or legislative provisions to expand the Low-Income Housing Tax Credit and encourage investment in creating and preserving affordable housing
Support small business by preserving the 199A qualified business income deduction and keeping taxes on business income lower for independent contractors and pass-through business owners.
Support commercial real estate investment and economic development by preserving 1031 like-kind exchanges.
Incentivize home ownership by increasing the $10,000 cap on the state and local tax (SALT) deduction and eliminate the penalty for married taxpayers filing jointly, who have the same maximum deduction as single filers.
Cosponsor the Direct Seller and Real Estate Agent Harmonization Act to ensure real estate agents maintain their independent contractor status under the Fair Labor Standards Act and preserve their ability to choose their preferred business classification.
Support the bipartisan Fair and Equal Housing Act to add sexual orientation and gender identity as protected classes under the Fair Housing Act.
Reauthorize and increase funding for HUD fair housing enforcement programs. Congress should support legislation that reauthorizes and increases funding for HUD’s fair housing enforcement programs.
Volunteering on the Local / State / National legislative committees have a great impact on the real estate market and it is a great way to give back to your profession. I have served on the local , State and as a FPC to our previous Congressman Roscoe Bartlett. Investing in RPAC is one of the best ways to protect and have a meaningful impact on our industry. Having served as a State RPAC Trustee, I have seen first hand the impact the RPAC dollars invested by our members make.
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