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Biden Budget Aims at Tax Break for Real Estate Investors

Saturday, Mar 11 2023
Commercial Lending
Written by  The Mortgage Leader

President Joe Biden’s budget request for Congress includes tax increases on billionaires and the abolishment of lucrative tax breaks for private equity fund managers, oil companies and crypto investors—and real estate investors too. So reports Bloomberg.

Biden smile 5621670 640 150x150Biden would scrap a venerable tax break that lets real investors who invest profits in other properties not pay capital gains taxes on those profits.

Although the Republican-controlled House will stop the proposals from becoming law, they offer a glimpse of Biden’s economic priorities heading into the 2024 election.

Read the full article from Bloomberg.

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