Taxation of Commercial Real Estate Development and Ownership
Will Continue on Economic Basis
(WASHINGTON, D.C.) – Real Estate Roundtable President and Chief Executive Officer Jeffrey DeBoer today applauded congressional policymakers on passage of the most significant tax legislation in more than three decades (H.R. 1). DeBoer stated:
“By reducing barriers to private sector capital formation and business investment, the tax overhaul legislation passed by the House and Senate this week will boost economic demand and job growth.
As this landmark tax bill heads to President Trump for his signature, The Real Estate Roundtable recognizes the diligent efforts of policymakers on Capitol Hill and in the White House to see this legislation through to the finish line.
Enactment of the bill will ensure that U.S. commercial real estate development and ownership will continue to be in line with the underlying economics of real estate assets and transactions, thereby avoiding economic distortions.
By strengthening the overall economy and spurring broad-based growth, this tax bill will allow commercial real estate to continue its role as a principal driver of economic growth and job creation. The legislation will also allow our industry to put more people to work modernizing and improving existing properties such as office buildings, shopping centers, apartments and industrial properties. These investments will in turn support the industry’s efforts to meet the changing and growing needs of American businesses and consumers.
H.R. 1 also decreases the tax burden on all job-creating business entities, not only C corporations. By promoting entrepreneurship and productive risk-taking at all business levels, these legislative changes will help accelerate economic growth, lift wages and create jobs.
The Roundtable plans to monitor the economic consequences of this historic tax legislation and provide industry metrics to relevant government agencies as they draft interpretative regulations in 2018.”
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