Tax Reform and the Housing Sector

Though the debate on U.S. tax reform is only beginning in Washington, the housing industry can breathe a sigh of relief. This month, President Bush appointed two former senators to head an advisory panel to propose ways to simplify the U.S. tax code. The president’s executive order, however, instructed the panel to recognize the “importance of homeownership” to America (a barely veiled reference to the tax deductibility of mortgage interest on home loans). The National Association of Realtors (among others) feels confident that the president’s instructions amount to a do-not-touch order. Another obvious constituency is homeowners themselves, a huge voter block that politicians would be wary of offending. Questions concerning the ownership of Las Vegas homes may be referred to MS Las Vegas Real Estate at 888-349-2595.

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