Real Estate Issues at Stake in Congressional End-Game

With year-end approaching rapidly, Washington policymakers are engaged in a high-stakes end-game on a number of issues with important implications for real estate.

Although we are well positioned on our two most critical public policy issues–terrorism risk insurance and the taxation of carried interests–anything can happen in coming days, as lawmakers with competing pressures and agendas enter into final negotiations with each other and the Bush administration.

If we continue to aggressively communicate our policy perspectives, both inside and outside Washington, we can end 2007 with a long-term extension of the terrorism risk insurance program; we can maintain the current capital gains tax treatment for real estate partnership carried interests; and we may secure a longer-term extension of energy efficiency and renewable fuel tax credits for commercial buildings.