Commercial Property Executive Previews the 2024 U.S. Presidential Election
October 09, 2024
Commercial Property Executive, a leading commercial real estate news source in the U.S., recently reported on the policy positions of presidential candidates Kamala Harris and Donald Trump relative to some key real estate industry issues of concern. CPE’s reporting is pretty objective, so CRELIX is pleased to share it here. You can view the original article on Commercial Property Executive.
TAXES
Harris
- Increase corporate tax rate from 21% to 28%
- Tax capital gains for people making $1 million or more as ordinary income
- Tax carried interest as ordinary income
- Limit like-kind exchanges to $500,000 in gains
Trump
- Cut corporate tax rate from 21% to 20%
- Make TCJA individual income tax cuts permanent
- Make TCJA estate tax cuts permanent
- Possibly replace personal income taxes with increased tariffs
SUSTAINABILITY
Harris
- Increase renewable energy use and lower carbon emissions via tax incentives and regulatory action
- Aim for net-zero greenhouse gas emissions by 2050
- Promote building resilience against climate-change-related disasters
Trump
- Lift restrictions on American energy production
- Repeal federal regulations [intended] to decrease greenhouse gases
- Terminate “Green New Deal” programs and redirect funds to infrastructure
- Repeal IRA-related tax incentives
ECONOMIC DEVELOPMENT
Harris
- Provide a $50,000 deduction on small-business startup costs
- Offer “America Forward” tax credits to companies that invest in manufacturing
- Quadruple tax on corporate stock buybacks
- Reform international tax system to discourage companies that send jobs and operations overseas
Trump
- Attract foreign companies with lower taxes and less regulation
- Impose tariffs on U.S. companies shipping jobs abroad
- Impose tariffs of up to 60% on Chinese imports and 10% to 20% on other imports
HOUSING PRODUCTION
Harris
- Construct 3 million new units by 2029
- Open up federal land for construction
- Work with local governments to streamline permitting and review processes
- Expand the Low-Income Housing Tax Credit program
Trump
- Open up federal land for housing construction
- Work with local governments to streamline permitting and review processes
- Reduce pressure on the housing market by controlling immigration
HOUSING AFFORDABILITY
Harris
- Expand rental assistance for veterans and other low-income renters
- Pass bill prohibiting the use of algorithms to set rents
- Provide $25,000 in help for first-time buyers
- Possibly cap rent increases at 5%
Trump
- Possibly create housing-based Opportunity Zones
- Reduce regulation on developers
- Lower energy costs by increasing fossil fuel production
- Expand housing assistance for veterans