The second session of the 111th Congress is underway and lawmakers face a full agenda of high-priority issues and unfinished business, many of which affect the apartment sector. The NAA/NMHC Joint Legislative Program’s top priorities for 2010 will include:
- Ensuring the industry’s continued access to capital as lawmakers undertake financial regulatory reform and the possible restructuring of Fannie Mae and Freddie Mac.
- Securing workable and cost-effective building energy efficiency standards in energy and climate change legislation.
- Opposing proposals to triple the taxation on a general partnership’s promote (or “carried interest”). At NMHC’s Annual Meeting in January, the one issue Republican Karl Rove and Democrat Howard Dean agreed on during their point-counterpoint interview was that raising taxes on carried interest (the promote) for real estate partnerships is a bad idea.
- Opposing the Employee Free Choice Act (“card check”). Card Check would disproportionately increase the political power of unions at considerable cost to employees and businesses during a severe economic recession and sustained period of job loss.
- Advancing our Balanced Housing Policy initiative to secure a housing policy that more explicitly recognizes the importance of rental housing.