(Nov. 30, 2017) The Impact of the Senate Tax Reform Bill on Oregon Homeowners
The Senate is poised to vote tomorrow, December 1, on the Tax Cuts and Jobs Act. This tax reform legislation not only threatens American homeownership by eliminating valuable deductions, but will also cost our children and grandchildren $1.5 trillion in new federal debt.
Please review this PDF showing the negative impact of this legislation on Oregon homeowners and housing value.
To date, more than 2,900 Oregon REALTORS® have responded to NAR’s Call for Action on this legislation (and a similar ill in the House), an impressive response rate of 27%! Let’s continue to let Congress know that Oregon does not support discounting or eliminating provisions that support homeownership and housing value.
Click here to have your voice heard before this critical vote.
Will this federal tax bill trigger another Great Recession? OAR Government Affairs Director Shawn Cleave makes that case in his latest blog post.
Did You Know?+
In the 2012 General Election, the Oregon Association of REALTORS® successfully passed Measure 79, which amended the Oregon Constitution to prohibit real estate transfer taxes, fees, and other assessments. This protects Oregonians already paying property taxes from an unfair, double tax.