Political divisiveness on Capitol Hill likely will prevent Congress from passing legislation this year addressing important tax initiatives that affect real estate, including the state and local tax (SALT) deduction and an extension of the Mortgage Forgiveness Debt Relief Act, lobbyists for the National Association of REALTORS® said Wednesday.
1. Clarification is needed on opportunity zones.
2. Little movement on SALT is expected
3. Mortgage debt relief remains in limbo.