Congressional Consideration Continues, Including Provisions That Would Impact the Real Estate Industry -

The House Ways & Means Committee is currently holding Member-level discussions on tax reform and is in the process of drafting a comprehensive tax reform package that reduces both business and individual tax rates, and broadens the base by eliminating tax expenditures and closing loopholes.

Ways & Means Committee Chairman Dave Camp (R-MI) has made it clear he intends to move tax legislation through his Committee this year, and that process began in earnest following the summer break. The Committee is holding Member level meetings to discuss tax reform options, building on the more than 20 hearings held over the past three years, the tax reform working group process from this past spring, and the discussion drafts Chairman Camp has already released.