UPDATE! TAX REFORM:
Both the House and Senate have named the members of the conference committee. The committee will begin meeting next week, its goal is to send a final bill to the President by December 15, 2017. NAR will continue to run the Call for Action until the committee finishes the legislation.
The Call for Action will now include language on State and Local Tax deductibility. Although the two bills have the exact same language, discussions are ongoing to make changes during the tax conference negotiations. This has created an opportunity for NAR to seek an expansion of the tax deduction to include income taxes, an increase in the cap and indexing the cap to inflation.
Information provided by: Tucson Association of Realtors