A Year to Remember
A Year to Remember
- NAR launched an educational campaign to help REALTORS® understand the important role the REALTORS® Political Action Committee plays in protecting our interests. As a result, national RPAC contributions are up 15 percent from last year.
- Through vigorous lobbying and a consumer education project, NAR helped ensure that, whatever the outcome of the tax reform debate, the mortgage interest deduction will remain part of the tax code. Both major parties and their presidential candidates have declared support for retaining this important homeownership initiative.
- NAR’s lobbying helped convince Congress to raise the health insurance deduction for self-employed professionals over the next 10 years from the current 30 percent of the annual premium to 80 percent.
- Prospects look good for a capital gains tax cut for America's homeowners. Both major presidential candidates proposed significant changes to the residential rollover rules that would permit almost all families to sell their homes and trade up or down without paying capital gains tax.
- Federal lead paint rules going into effect in December focus on disclosure, as NAR had urged, rather than mandatory testing.
- NAR-supported tax legislation that was enacted will benefit Subchapter S corporations, lessors making tenant improvements, and small businesses expensing capital investments.
True to its legal outreach commitment, NAR launched customized newsletters aimed at helping key segments of the REALTOR® organizationfollow good risk-reduction practices.
- NAR began work on realizing its vision of a computerized ''central gateway'' through which any REALTOR'' can access information offered by national, state, and local REALTOR® associations, as well as services designed to keep the REALTOR® at the center of the real estate transaction. By the second quarter of ’97,REALTORS®
- NAR has enhanced its credibility as the source of international real estate expertise, setting the stage for more REALTORS® to participate in international transactions. As many as 1,000 visitors from more than 40 nations will attend the annual convention in November to learn about our business.
- Through the tough times that inevitably occur amid great changes, weREALTORS® have stuck to the values of communication, grassroots participation, and respect that have made this organization so successful. We truly are much more effective when we work together.
It's been a privilege to work with all of you.
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