Biden’s New Budget Proposes Limiting 1031 Exchanges - The Di Wire
William Levy | IGRE - This proposal is bad for all Americans, not just real estate investors, and will set our overall economy back 40 years.
If Congress passes this bill, it will eliminate almost half of all 1031 exchange transactions and most DST exchange programs. Its effects will substantially reduce deferring capital gains taxes on the sale of real estate, and will weaken all financial markets, not just the real estate markets. It’s been in effect for 120 years and has steadly grown our economy by creating more jobs, higher wages and greater opportunities for all americans. Let's keep it in place and let it continue doing its magic. Click to learn more: www.IgreFund.com
March 30, 2022
Earlier this week, President Biden released his $5.8 trillion 2023 federal budget proposal, which seeks to limit the deferral of gain on Section 1031 exchanges. Read more: https://conta.cc/3wXGcEs