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Republican Tax Bill Opposed by Builders & Realtors
How badly will the Republican tax bill hurt Asheville's real estate market?
The Republican tax bill will negatively impact the lodging, housing, and real estate industry in the Asheville Area, as well as across North Carolina and the nation. Just how bad is still being figured out. However, immediately after the initial release of the tax details were analyzed, the Republicans were quickly and vehemently opposed by the real estate industry. Even with the latest changes to the tax bill, both the Realtors and the Builders associations are uncertain of its effects and less than enthusiastic.
UPDATE: Realtors say tax bill still requires 'tough work ahead' | Although better than its initial stage, the NAR says that the new tax bill to be signed by the president needs improvement | NAR.com: More>
UPDATE: The Republican tax bill 'is a bad deal for hardworking American families' | The Republican tax changes "will hurt the middle class by lowering household wealth," said the chairman of the National Home Builders Association (NHBA), as reported by RISMedia, which conducts professional courses for REALTORs and the real estate industry | RISmedia.com: More>
UPDATE: Taxpayers are confused about what tax bill means to them | On Dec. 20, 2017, Washington Post business reporters Renae Merle and Aaron Gregg wrote: "Homeowners are already peppering local officials with questions about whether they can — and should — prepay their 2018 property taxes in the less than a dozen days left in 2017, before new limits on such deductions take effect. Others are asking their accountants whether there are expenses — such as moving costs — that they should pay now before they are no longer eligible for preferential tax treatment." Answers are few, given the last minute passage of the bill; thus, taxpayers will have to wait and see what the new tax bill holds for them and homeowners | Washingtonpost.com: More>
UPDATE: Tax bill might mean growth | However, if not "then there is a problem," reports Marketplace.org, a broadcast business program: More>
UPDATE: Economist Krugman: 'Republicans despise the working class' | Nobel-prize winning economist Paul Krugman said in his Dec. 14, 2017, column, "You can always count on Republicans to do two things: try to cut taxes for the rich and try to weaken the safety net for the poor and the middle class." | NYTimes.com: More>
UPDATE: 10 things you need to know about the new tax bill | Reports Marketwatch.com on Dec. 20, 2017: More>
UPDATE: Most of the people who will benefit are not small business owners | Small businesses will not be the big beneficiaries of the new tax plan's often-heralded pass-through income, reports Alicia Parlapiano on Dec. 20, 2017, in the NYTimes.com: More>
National Association of REALTORS (NAR) gives a thumbs down to the Republican tax bill because "the bill represents a tax increase on middle-class homeowners," announced the NAR, which is America's largest trade group comprised of 1.2 million members: More>
National Home Builders Association (NHBA) opposes the Republican tax bill | Report from a program on business and the economy at Marketplace.org: More>
Republican lies about its tax bill and Sen. Orrin Hatch feigns righteous outrage | Confrontation in the U.S. Senate became heated when the truth was publicly told by Sen. Sherrod Brown to Sen. Warren Hatch that the rich will get richer under the new bill. "Bullcrap," responded Hatch. This and Speaker Paul Ryan's statements are analyzed and explained by Paul Krugman, economist and columnist at NYTimes.com: More>
The Party of Lincoln's tax bill revealed | This political cartoon might relieve the pain for Asheville's middle class, homeowners, builders and Realtors, if but for a moment, compliments of Thecomicnews.com: More>