Bill Reduces Barriers to Private Sector Capital Formation and Business Investment
(WASHINGTON, D.C.) — Real Estate Roundtable President and Chief Executive Officer Jeffrey DeBoer released the following statement on the Tax Cuts and Jobs Act released today by Republican leadership in the U.S. House of Representatives.
“The Real Estate Roundtable commends House Speaker Paul Ryan (R-WI), House Ways and Means Committee Chairman Kevin Brady (R-TX) and their colleagues on the introduction of comprehensive tax reform legislation.
Today, U.S. commercial real estate is taxed on an economic basis, and commercial real estate markets are generally healthy and strong. However, outdated and overly complicated tax laws are a drag on the broader economy. By reducing barriers to private sector capital formation and business investment, tax reforms in the House bill will boost economic demand and job growth.
The bill would reduce the tax burden on all job-creating businesses, not only C corporations. If the final bill is similar to the one introduced today, our industry will put more people to work modernizing and improving existing properties — office buildings, shopping centers, apartments, industrial properties — to meet the changing and growing needs of American businesses and consumers
As the House bill moves on to mark-up next week in the Ways and Means Committee, and a separate tax reform bill is expected in the Senate this month, we look forward to continuing to work with Congress and the Administration to enact pro-growth tax reform."
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