T
housands of Realtors are on Capitol Hill, lobbying lawmakers to address the nation's housing shortage. Their top priority is making more homes available and affordable for buyers. To achieve this, they're pushing for several key pieces of legislation.

    The National Association of Realtors (NAR) wants to boost home sales by supporting a bill that would exclude capital gains from taxes on primary residences, incentivizing long-term homeowners to sell their properties. This, in turn, could increase the supply of homes on the market.

    Other bills aimed at addressing the housing shortage include:

    * The Housing Supply Framework Act, which aims to develop a national strategy to reduce new housing regulations and identify best practices for zoning and land-use policies.

    * The Revitalizing Downtowns and Main Streets Act, which proposes converting underused commercial properties into mixed-use housing or residential buildings.

    * The Uplifting First-Time Homebuyers Act, which would increase the amount that individuals can withdraw from an IRA for use on a down payment without incurring penalties.

    Additionally, NAR is advocating for three bills related to self-employed professionals:

    1. The Association Heath Plans Act, which would provide affordable health care access to Realtors and other self-employed individuals.

    2. The Direct Seller and Real Estate Agent Harmonization Act, which aims to ensure that agents can maintain their status as independent contractors under the Fair Labor Standards Act.

    3. The Main Street Tax Certainty Act, which would retain the current 20% deduction for pass-through business income set to expire at the end of 2025.

    These bills and initiatives aim to address the nation's housing shortage by increasing the supply of homes on the market, making it easier for first-time homebuyers to access capital, and providing support for self-employed professionals.