Pop the bubbly, folks—real estate just scored BIG on Capitol Hill. The U.S. Senate has officially passed a massive new tax reform bill, and guess what? It’s packed with goodies for homeowners, investors, and real estate professionals alike. The National Association of REALTORS® (NAR) went to bat for all of us—and knocked it out of the park.
Let me break it down without the political jargon and with just the right amount of Florida sunshine.
Top 5 Real Estate Wins in This Bill
These aren’t just bullet points—they’re power moves that could save you (and your clients) thousands:
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Permanent Lower Individual Tax Rates
Translation: more take-home pay and more buying power for homebuyers.
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A Stronger Qualified Business Income Deduction (Section 199A)
Great news for us independent contractors and small business owners—our tax savings just got a permanent upgrade.
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SALT Deduction Cap Quadrupled for 5 Years
If you’re living in a high-tax state, this is a game-changer. Beginning in 2025, the cap will increase for a limited time. Florida residents? We still don’t have state income tax (flex), but this helps clients moving here from states like New York, New Jersey, or California.
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Protection for 1031 Like-Kind Exchanges
Investors, rejoice! The 1031 is alive and well, keeping the wheels turning for rental portfolios, flips, and long-term holds.
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Mortgage Interest Deduction Stays Put—for GOOD
This is the one buyers ask about the most, and yes—it’s here to stay. That deduction helps make homeownership more affordable year after year.
Bonus Wins That’ll Shake Up the Market
The bill didn’t stop at those five heavy hitters. Here are a few more that’ll quietly (or not-so-quietly) fuel the real estate economy:
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Low-Income Housing Tax Credit Boosted: More support for affordable housing means more development options and more housing availability across all income levels.
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Child Tax Credit Increased to $2,200: A little extra breathing room for growing families trying to buy their first home.
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Estate Tax Threshold Set at $15M: Great for multigenerational wealth and keeping real estate in the family.
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Business Perks Restored: Expensing R&D, bonus depreciation, and more—business owners and developers will love this.
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Opportunity Zones Revamped: More incentives for investors to build and revitalize underserved areas—hello growth in rural Florida!
Real Talk: How REALTORS® Made This Happen
This didn’t happen by luck. NAR was relentless—running research, polling the public, and meeting with lawmakers at all levels. Heck, they were at the White House just days before the Senate vote, fighting for the future of real estate like total pros.
They brought receipts too. Their May survey showed:
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92% of voters support tax-free savings accounts for first-time buyers.
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91% want the mortgage interest deduction to stay.
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83% love the 20% small biz deduction.
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And yes, even SALT cap reform had strong support.
This kind of data gave Congress the green light to include these provisions—and honestly, it’s a win for everyone who believes in building wealth through homeownership.
“Baby Bonds”?! You Bet.
One quirky but powerful new feature: the bill includes “baby bonds”—a $1,000 government investment for every child born after the bill passes. That fund could grow over 18 years and become a down payment on their first home. Now that’s planning ahead!
What It Means for YOU
Whether you're:
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A first-time buyer eyeing the market,
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An investor scaling your portfolio,
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Or a homeowner wondering what’s next...
This bill puts more money in your pocket and more fuel in the housing market engine.
And for my fellow REALTORS®? These wins keep our tools sharp, our industry strong, and our clients confident that now is still a great time to buy, sell, and invest.
Have questions about how this bill impacts your next move? Let's chat. Whether it’s navigating 1031s, understanding deductions, or building a strategy to buy or sell—I'm here to guide you through it all.
