According to a new article from the Society of Industrial and Office Realtors®, the preservation of Section 1031 “is not only a vital investment tool for the CRE industry, but as an economic engine for the U.S. economy.”
Former FEA Government Affairs Committee Co-chair Suzanne Goldstein Baker is quoted in the article. She says, “To offer capping 1031 as a pay-for is a misguided policy, because it’s a misunderstanding of what 1031 actually does. It’s not an abusive tax loophole for the rich. It’s broadly used by taxpayers of modest means as well as larger businesses. It’s not even a tax savings vehicle. It’s merely a timing device, a tax deferral that allows taxpayers to better manage their cash flow.”
You can read the full article here: www.sior.com/education-and-insights/insights/magazine/sior-report-article/winter-2021/preserving-the-1031-now-and-for-the-future
