Action Alert  

Prevent New Tax Burdens on Real Estate

H.R. 4213, the American Jobs and Closing Tax Loopholes Act of 2010 (or better known as the Extender Package) contains the carried interest provision in the Call for Action. It has not yet been voted on.  The House had been scheduled to vote on the measure May 21, with the Senate following the week of May 24. The Senate adjourned for its Memorial Day break before voting on the measure. Then tried again three times in June to bring the bill to a vote.  

The Senate cloture vote to end debate on H.R. 4213 on June 30 failed by a vote of 57-41. This was the Senate's third unsuccessful attempt in June to limit debate and move to an up or down vote on a bill that includes the tax increase on Carried Interest as a revenue offset.

While this particular vote was unsuccessful, the provision is likely to be included in whatever tax package can move through the Senate this year.

National Association of Realtors (comments@realtoractioncenter.com)

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