Trump Tax-Reform Outline Prompts Divergent Views About Potential Impact on the Housing Market
May 11, 2017
The Trump administration’s tax-reform plan could boost home sales somewhat, though the National Association of Realtors and National Association of Home Builders have raised significant concerns about the treatment of deductions. At the end of April, the Trump administration released a one-page outline for reforming federal taxes. It calls for doubling the standard deduction to $24,000, maintaining the mortgage interest deduction and repealing the deduction for state and local taxes. William Brown, president of NAR, said the plan would effectively eliminate...