WASHINGTON, DC—The National Multifamily Housing Council and National Apartment Association spelled out the industry's priorities as the so-called “Big 6” group of Congressional leaders and Trump administration officials released their outline for tax reform Wednesday. Among the two associations' main points were the need to protect flow-through entities and the importance of promoting affordable housing.

“We look forward to discussing with Congress our members' key issues in the proposal, and the impact of the package on the apartment industry and its potential to help solve America's housing affordability crisis,” says NMHC and NAA in a statement. “The country needs 4.6 million more apartments by 2030 just to meet demand, and it's critical that tax policy supports the production of that housing.”

In an industry comprised largely of flow-through entities, the two associations support “a more competitive 25% pass-through rate and urge lawmakers to make sure all legitimate business income qualifies. Additionally, the framework's cost recovery rules leave us hopeful a final bill will promote the development of multifamily housing.