Biden-Harris Transition Letter
December 16, 2020
This week, The Real Estate Roundtable and 12 national real estate organizations sent a letter congratulating President-elect Joe Biden and Vice President-elect Kamala Harris on their historic election and outlining a wide range of issues where we hope to work closely with the incoming Administration.
The letter commends the President-elect and VP-elect for their focus on combatting the pandemic, preserving and creating jobs, rebuilding our infrastructure, addressing housing challenges, reforming outdated immigration laws, and deploying market-based strategies to confront climate change. It describes how struggles caused by COVID-19 are affecting real estate-related workers and putting pressure on small businesses, financial institutions, property values, pension funds, and local governments.
The letter explains how our industry is contributing to the reopening process, emphasizes our data and fact-based approach to public policy, and offers our Members’ on-the-ground experience and expertise to help inform the new Administration’s work.
The letter underscores the far-reaching economic impact of commercial real estate and acknowledges how the pandemic has magnified systemic inequalities while expressing support for the Administration’s “build back better” effort to address the disproportionate hardships facing minorities and low-income communities. It then offers several recommendations for COVID-19 relief (direct relief, rental assistance, liability safeguards, etc.) as well as recommendations aimed at long-term challenges (pandemic risk insurance; infrastructure investment; retrofitting aging buildings and optimizing energy efficiency of structures; increasing the supply of housing; immigration and visa changes that would bring talent, innovation, and capital to the United States; etc.).
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