T
he National Association of REALTORS' (NAR) tireless advocacy efforts, combined with up-to-date consumer research, played a crucial role in securing key tax priorities as part of the One Big Beautiful Bill Act. Signed into law on July 4 by President Donald Trump, this sweeping tax reform brings significant wins for real estate professionals, consumers, and the economy.

    The legislation includes several long-sought NAR priorities: permanent extension of individual tax rates that went into effect in 2017, a quadrupled state and local tax (SALT) deduction cap for five years starting with the 2025 tax year, protection for business SALT deductions and 1031 like-kind exchanges, and a permanent extension of the mortgage interest deduction.

    "These provisions form the backbone of the real estate economy," said Shannon McGahn, NAR's executive vice president and chief advocacy officer. "This bill reflects what happens when REALTORS work together to educate lawmakers and advocate for policies that benefit every American."

    NAR's research showed overwhelming public support for key real estate provisions: 92% supported tax-free savings accounts for first-time home buyers, 91% backed preserving the mortgage interest deduction, and 83% favored lower individual income tax rates. McGahn credited NAR members with delivering a clear message to lawmakers, saying "We brought these numbers directly to Capitol Hill and to the White House."