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Industry voices tax bill disapproval

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Paydayloans247 | 05 Dec 2017, 08:15 AM Agree 0
One of the country’s largest industry associations has expressed its opposition to the Senate Tax Reform Bill, which was released late last week
  • Paul | | 05 Dec 2017, 11:51 AM Agree 0
    Not sure what the NAMB is focusing on here.

    1) The State and Local tax deductions will be replaced by a higher standard deduction and will actually help most Americans. It will only hurt the top 5% and they already get plenty of tax breaks and can afford it anyway. Stopping the ultra rich from purchasing that 2nd, 3rd or 10th luxury home is not going to hurt the housing market.

    2) The provision taxing mortgage servicers in advance is again aimed at the ultra rich. Wells Fargo is not going to pay any additional taxes, just pay them earlier. Again, this only hurts the ultra rich and will do absolutely nothing to deter the average American home buyer from purchasing a home.

    The NAMB is showing who they actually care about here.
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