Real Estate Execs Brace For Trump’s Tax Policy
Just because Donald Trump is a developer doesn’t mean real estate execs expect him to give the industry tax bonuses. In fact, investors are worried huge changes to the tax code could negatively impact their business.
During his campaign, Trump advocated using tax policy to help US manufacturing by limiting imports, yet he’s never addressed how the real estate industry should be taxed, the Wall Street Journal reports. But real estate execs are afraid a Republican overhaul of the tax code will destroy deductions for state and local property tax, which their plan calls for.
Even more critical for the industry is the mortgage interest deduction, which Republican's June proposals preserve; however, the plan aims to eliminate deductions for debt interest payments. [WSJ]