Posted on September 25, 2017

Lawmakers are focusing their attention on tax reform this month. The Senate Finance Committee will hold a hearing this week to collect testimony about business tax reform proposals. That follows a similar session last week to discuss individual reform.

For his part, House Speaker Paul Ryan promises to release details of a tax reform plan by September 25. “The outline will represent a consensus between the two tax-writing committees in Congress, the House Ways and Means Committee and the Senate Finance Committee, and the Trump administration,” Bloomberg reported.

President Donald Trump says the final tax measure should draw bipartisan support, and he’s met with leading Democrats including Sen. Charles Schumer and House Minority Leader Nancy Pelosi to discuss taxes and other issues. “More and more, we’re trying to work things out together,” Trump said during a meeting with moderates from both parties.

Posted on September 21, 2017

With 24/7 coverage of ongoing global events dominating the news cycle, it's easy to lose sight of what's happening with U.S. legislation critical to our industry.

Tax reform negotiations are imminent: House Speaker Paul Ryan has promised to release an outline of a tax reform plan the week of September 25, followed by negotiations between the House, Senate, and administration.

This is the first major tax reform in more than three decades, and the stakes for commercial real estate are high. We have been closely working with Congress to ensure legislative programs and incentives critical to our industry are carefully considered throughout the negotiation process, including:

Posted on September 6, 2017

The future of tax reform remains unclear as Labor Day approaches. However, the White House is indicating it plans to step back and allow lawmakers to take the lead this fall. “The White House does not plan to release its own version of a tax reform plan and will instead leave that to the congressional leadership and the major tax-writing committees,” Politico reports, citing an administration source.

One issue that may be on the table is the current tax treatment of carried interest as capital gains.

During an event in Louisville with Senate Majority Leader Mitch McConnell, Treasury Secretary Steven Mnuchin hinted the administration might be open to preserving the current status of carried interest for certain activities that result in long-term capital investment and assets. “We will close the loophole for hedge funds in carried interest. What we are focused on is there are many other types of funds that do create jobs and we want to make sure we don’t discourage investment,” he said.