The CRE Industry is Battling Back Against Proposed Tax Reforms Industry pros fear that the slew of proposed measures, if enacted, would lead to a steep drop in deal volume and pricing.
Commercial real estate stakeholders are rolling up their sleeves and digging in to battle proposed tax reforms that could deal a devastating blow to the investment marketplace.
The two issues garnering the most attention are a $500,000 limit on the amount of capital gains that could be deferred in a 1031 exchange and an increase in the maximum capital gains tax rate from 20.0 percent to 39.6 percent. Commercial real estate industry advocate argue that those two items combined would deliver a one-two punch for investors across the board as it would generate significantly higher tax penalties following the sale of a property. Industry participants are also worried that the new tax rules would significantly reduce investment sales activity and send ripple effects across the broader economy.
Press Release: New Officials Sworn In at the
Defense Department
Article: Retrograde From Afghanistan Continues
as U.S. Officials Protect Troop Numbers
Article: Defense Acquisition University Plows
Through Pandemic With Online Offerings
Contracts for May 11, 2021
Department of State
May 11: Readout | Secretary Blinken s Call with
Israeli Foreign Minister Ashkenazi
May 11: Statement | The United States Impedes
Hizballah Financing by Sanctioning Seven Individuals
May 11: Advisory | Secretary Blinken To Release 2020
International Religious Freedom Report (May 12)
May 11: Transcript | Department Press Briefing
US Mission to the United Nations (UN)
Advisory: Ambassador Thomas-Greenfield s
Participation in a UN Side Event on the Situation of Uyghurs and
other Turkic Muslim Minorities in Xinjiang (May 12)
Readout: US Secretary Of The Treasury Janet L. Yellenâs Call With French Minister Of Finance, The Economy, And The Recovery Bruno Le Maire Date
11/05/2021
Earlier today, Secretary of the Treasury Janet L. Yellen spoke with French Minister of Finance, the Economy, and the Recovery Bruno Le Maire. They discussed next week’s Summit on Financing African Economies to be hosted by President Macron, and the benefits of an SDR allocation to assist low income countries, including in sub-Saharan Africa. Secretary Yellen and Minister Le Maire also discussed the importance of working together toward a solution in the ongoing OECD discussions on international taxation.
opposing new voting restrictions in Texas.
But wait, that s not all: Iowa and Georgia have already passed bills that not only impose new restrictions but grant those states’ legislatures greater control over the electoral process. https://nyti.ms/3vR3to6
These bills, pushed by Republicans, include restricting absentee ballots, tightening early voting opportunities and limiting drop boxes.
Happy Friday! I’m
Alicia Cohn, filling in for Cate today, with a quick recap of the morning and what’s coming up. Send comments, story ideas and events for our radar to cmartel@thehill.com and follow along on Twitter @CateMartel and Facebook.