Today, Shannon McGahn, executive vice president and chief advocacy officer of the National Association of Realtors®, issued the following statement commemorating the sweeping tax reform legislation that became law one year ago:

"One year after becoming law, the tax provisions included in this legislation continue to benefit homeowners, consumers, and small businesses while helping make homeownership more affordable and accessible. By preserving the mortgage interest deduction, extending lower individual tax rates and the qualified business income deduction, protecting 1031 like-kind exchanges and business SALT deductions, and increasing the SALT deduction cap, these policies continue to support families, strengthen local economies, and promote investment in housing.

Just as importantly, these policies have broad public support. Ahead of the bill's passage, NAR research found overwhelming bipartisan support for preserving tax incentives that help Americans buy, own, and invest in a home. As housing affordability remains a challenge, protecting these proven policies while advancing solutions that expand housing supply and increase access to homeownership will remain essential."

 About the National Association of Realtors®

The National Association of Realtors® is involved in all aspects of residential and commercial real estate. The term Realtor® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors® and subscribes to its strict Code of Ethics. For free consumer guides about navigating the homebuying and selling transaction processes – from written buyer agreements to negotiating compensation – visit facts.realtor.