Trump's Congressional Address: What Matters to Real Estate
In his address to Congress on Tuesday night, President Donald Trump renewed his pledge to rebuild the country's infrastructure, replace the Affordable Care Act, and reform taxes for businesses and individuals—all issues of importance to real estate.
The National Association of REALTORS® sees investments in roads, bridges, dams, and other projects as critical to supporting property values. Trump said he will ask Congress to approve legislation to get $1 trillion in public and private capital invested in these projects. "Crumbling infrastructure will be replaced with new roads, bridges, tunnels, airports, and railways gleaming across our beautiful land," he said.
He provided no details on where the federal contributions will come from, but during his 2016 presidential campaign, he talked about using federal tax credits to attract private investment. Learn about the key legislative issues NAR is tracking.
Trump said he wanted to repeal the Affordable Care Act and replace it with something that would "expand choice, increase access, lower costs, and, at the same time, provide better health care."
Under the replacement program, people with pre-existing conditions should continue to have access to coverage; there would be tax credits and expanded health savings accounts for those who need financial help; states would be given the flexibility and resources to expand Medicaid if they want; and there would be legal reforms to bring down the costs of drugs and medical care and reduce lawsuits. Trump also said he wants people to be able to buy insurance across state lines. Get health insurance information from NAR.
Trump provided little detail on his tax reform plan except to say he wanted to cut tax rates for businesses and individuals. One detail he provided on the business side is the levy of a tax on imports, which he said would help even the playing field for American businesses.
He gave no details on how reform would apply to individuals, saying only that his plan "will provide massive relief for the middle class." Get tax reform information from NAR.
Trump also mentioned his executive orders to reduce regulations on businesses, including his order requiring federal departments to eliminate two regulations for every regulation they propose. Get information on deregulation guidance from NAR.
—Robert Freedman, REALTOR® Magazine