(Bloomberg) -- House Republican leaders began rolling out atax bill Thursday that contains sweeping changes for business and individual tax rates, including ameasure to cut the corporate tax rate to 20 percent.
The bill would cap the mortgage-interest deduction on new home sales at $500,000 -- adeparture from the current cap of $1 million for couples filingjointly, according to a memo written by the House Ways and MeansCommittee.
The National Association of Realtors, which has been wary of thetax plan, said the memo “appears to confirm many of our biggestconcerns.”
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
