09-19-2017, From Bloomberg, “Lobbyists on Edge Awaiting Details of Trump Tax Overhaul Plan” by Ben Brody. READ THE ARTICLE
The National Association of Home Builders has already created ads to either support or oppose a U.S. tax-code overhaul, depending on how Congress and President Donald Trump propose to treat its favorite tax breaks.
“We’re at DEFCON One,” said Jerry Howard, president of the trade group that represents 140,000 builders. “But we’re not going to push the button until we’re forced to.”
For home builders, there’s nothing more important than preserving the mortgage-interest deduction for individuals — a kind of home-buyer’s subsidy. But other industries have their favorites too, from insurers and investment firms that want to keep tax advantages for individuals’ retirement savings to private equity firms, utilities and commercial real estate companies that want to make sure corporations can still deduct their net interest expenses.
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