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Congressional negotiators reported progress on a border-security deal this week, as they aim to pass legislation by Feb. 15 to fund approximately 25% of the government. Without a new funding measure, the government will face a second partial shutdown.

A $333 billion spending package passed by Congress yesterday and signed by President Trump today funds the government through Sept. 30 (end of FY2019), avoiding a second government shutdown.

This week’s Real Estate Roundtable Spring Meeting featured discussions with U.S. lawmakers on developing market-based public policies that benefit national economic growth, create sustainable jobs and meet the evolving housing needs of local communities. The meeting focused on issues such as infrastructure; terrorism insurance; tax issues such as opportunity zones and FIRPTA repeal; and energy efficiency.

The Real Estate Roundtable and a coalition of more than 100 business organizations yesterday sent a letter to Senate and House tax writers supporting legislation that would permanently extend the new 20 percent deduction for qualified pass-through business income.

The Senate yesterday confirmed Mark Calabria, previous chief economist to Vice President Mike Pence, as director of the Federal Housing Finance Agency (FHFA) – the federal regulator overseeing Fannie Mae, Freddie Mac and the multi-trillion dollar Federal Home Loan Bank System.

The Financial Accounting Standards Board (FASB) this week voted to reject a proposal by regional banks to soften the impact of a change that will force banks to book losses on bad loans much faster.

Bipartisan Senate legislation introduced May 8 would direct the Treasury Department to collect data and issue annual reports on Opportunity Zone (OZ) tax incentives. Reporting requirements were included in the original Investing in Opportunity Act before Congress passed it as part of tax reform in December 2017.

A broad coalition of real estate and environmental organizations urged congressional tax writers this week to establish an accelerated depreciation schedule for a new category of Energy Efficient Qualified Improvement Property installed in buildings – or "E-QUIP."

The Real Estate Roundtable on April 30 wrote to the Senate Banking and Judiciary Committees urging hearings to consider the SAFE Banking Act (S. 1200) and the STATES Act (S. 1028) – measures that would provide clarity for banking firms and real estate providers to fully serve the needs of cannabis-related businesses deemed legal under state law.

President Donald Trump and Democratic congressional leaders on Tuesday agreed to pursue a $2 trillion infrastructure package and meet again in three weeks to discuss possible revenue sources.

A coalition of businesses and trade groups, including The Real Estate Roundtable, today urged all members of Congress to cosponsor the Restoring Investment in Improvements Act (H.R. 1869 / S. 803) – a bill that would correct a drafting error in tax reform.

Reps. Mike Quigley (D-IL) and Tom Rice (R-SC) reintroduced the bipartisan Jobs Originating through Launching Travel (JOLT) Act of 2019 (H.R. 2187) on April 9 to improve national security, increase international tourism, create jobs and reform visa laws.

A pair of bills working their way through Congress could allow financial institutions to provide legal cannabis companies with banking services and resolve federal-state laws governing cannabis.

The Treasury Department on Wednesday released a highly-anticipated, second set of Opportunity Zone (OZ) regulations that seek to provide certainty to potential OZ investors and drive economic development in economically distressed communities nationwide.

A recent report from the Urban Land Institute (ULI) and Heitman LLC explores current methods for assessing and mitigating climate risk in real estate.

Bipartisan legislation introduced on April 10 by Reps. John Larson (D-CT) and Kenny Marchant (R-TX) would repeal the Foreign Investment in Real Property Tax Act (FIRPTA) – a discriminatory capital gains tax on foreign investors in U.S. real estate.

President Trump yesterday hosted the first meeting of the White House Opportunity and Revitalization Council and introduced its new Executive Director – Texas state legislator and former NFL player Scott Turner – to lead a coordinated Administration effort to revitalize economically distressed communities.

Repealing FIRPTA, streamlining permit procedures and passing infrastructure financing measures will help spur infrastructure improvements and contribute to economic growth, according to recommendations submitted this week by The Real Estate Roundtable to the House Ways and Means Committee.

The House Financial Services Committee on March 27 approved the Secure and Fair Enforcement (SAFE) Banking Act of 20119 (H.R. 1595), which would allow financial institutions to legally work with state-authorized cannabis-related businesses.