Success Journal: Heading up the Hill
Once again, we head to Washington D.C., for our Midyear Meeting. REALTORS® from around the country visit Capitol Hill to speak with their elected representatives on issues that affect the "REALTOR® Party." It is important now, more than ever, that we convey our position on policy issues that impact the real estate industry.
Two Top Issues
Mortgage Interest Deduction (MID):
Currently, individuals are permitted to deduct mortgage interest on their primary residence and one additional residence up to $1 million and up to $100,000 of debt on home equity loans and lines of credit.
The MID is an effective tool that facilitates homeownership. While only 30 percent of all taxpayers in any given year itemize their deductions, more than three-quarters of homeowners utilize the MID.
Ask your representatives to show their support of stable housing policy by co-sponsoring H.Res.25, a bipartisan resolution offered by Rep. Gary Miller (R - CA). REALTORS® believe that wide co-sponsorship of this resolution will send a strong signal that Congress remains committed to a housing recovery.
NAR’s Position. NAR opposes any changes to the current law and believes this proposal is ill timed, ill advised and would have an adverse impact on the housing values and the pace of economic recovery.
Take Action. Click here to read more about what you can do.
Government Sponsored Enterprises (GSE):
Congress is looking at proposals to reform the secondary mortgage market. Their decision could impact the availability and affordability of mortgage financing. We need 30-year fixed mortgages to remain widely available with safety measures in place to prevent lenders from making risky exotic loans to borrowers who are unprepared to handle them.
NAR’s Position. The Federal government must remain in the secondary market to ensure affordable mortgage financing in good and bad times, and any secondary market entity must not allow private shareholder profits at public taxpayer risk.
You will also be hearing more about the REALTOR® Party Political Survival Initiative. The initiative is a powerful proposal to make the Voice of Real Estate one of the most influential advocacy groups in America.
As 2011 NAR President Ron Phipps told thousands of REALTORS® at a virtual town hall meeting on April 13, "We are at a threshold. Housing is under attack in a way we've never seen before." Read more about the initiative at this link.
What You Can Do
First, arrive in Washington, D.C., a day or two early before your scheduled meetings for NAR and Women's Council. Plan this time for visits to your elected officials and make them aware of the "REALTOR® Party" positions.
Next, donate to RPAC. These funds are used to promote bills that support our industry, defeat those that would make a negative impact and permit us to advocate for issues that affect personal property rights for our clients.
I realize that times are tough right now and we're all keeping a closer eye on our spending. So think of RPAC as an investment in your business, a career insurance policy. Every contribution makes a difference. Click here for major donor levels and benefits.
Of course, Women's Council has a fabulous schedule planned. Check out the "New" PMN Course, "Leadership Excellence: Becoming a Level 5 Leader," and participate in one of four forums structured around our new Strategic Framework.
This is the time and the place to have your voice heard on Capitol Hill and at the Women’s Council. Visit our Midyear page to help plan your calendar. I'll see you in D.C.
Anita Davis, ABR, CRS, GRI, PMN
Women's Council Recording Secretary
Long & Foster Real Estate
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