The National Association of REALTORS® President Elizabeth Mendenhall pledged to work with members of the U.S. Senate on more equitable tax reform for middle class Americans after the U.S. House of Representatives voted 227-205 Thursday to pass H.R. 1, also known as the “Tax Cuts and Job Act.”
“American homeowners shouldn’t have to pay for corporate tax cuts with their home equity,” said Mendenhall. “It’s a matter of basic fairness; 1.3 million REALTORS® have known since the beginning, and America’s 75 million homeowners are just beginning to learn, that homeowners will be the ones paying the tab. REALTORS® will do our part to spread the word as we work with the Senate to address this impending assault on homeownership.”
Middle-class homeowners will see their home values go down if the legislation becomes law, she says, but large corporations will see the bulk of the tax cuts.
Read Mendenhall’s entire statement.
Read the CNN story “House Republicans pass tax plan, Senate plan’s future unclear.”