A new Congress has taken over in Washington today and NAR is ready with a list of key priorities that we want our elected representatives to address.
Chief among these concerns is infrastructure. A top federal public policy priority at NAR for 2019, infrastructure ranked high on the NAR Member Survey and it is expected to be taken up by Congress and the White House in 2019.
Other priorities include making recent tax law changes better and ensuring REALTORS® have a leading voice in efforts to reform the country’s secondary mortgage market.
The NAR Federal Taxation Committee will consider changes to improve last year’s tax reform law. On the commercial side, the Federal Taxation Committee and the Commercial Committee will seek to advance qualified opportunity zones as a path for real estate investment.
NAR 2019 priorities include improving access to credit and alternative credit models, health insurance, flood insurance, and NAR innovation agenda in technology.
Flood Insurance affected by the Government Shutdown
Finally, we recognize the difficulty of the federal government’s ongoing partial shutdown at the end of December 2018 and leading into January 2019. Among the many impacted constituencies were purchasers of flood insurance and home sale transactions in a flood zone.
The Federal Emergency Management Agency (FEMA) on December 26 suspended new policies or renewal of existing policies which had an immediate negative effect on housing markets across the U.S. Following aggressive and persistent by NAR, FEMA reversed their decision on December 28 and allowed flood insurance policies to continue.
NAR’s CEO Bob Goldberg on December 28 gave thanks to the “Advocacy Team and Members that worked tenaciously to get this ruling reversed. Their tireless effort has paid off to benefit America’s property owners.”