Posted by: RAPV | August 3, 2011

Debt Ceiling Bill – NO Direct Impact on RE Tax Rules

On August 2, President Obama signed into law, S. 365, the Budget Control Act of 2011, more commonly known as the Debt Ceiling Bill.  After careful analysis of the bill we can report that it contains NO DIRECT IMPACT ON REAL ESTATE TAX RULES OR SPENDING PROVISIONS.  No tax laws of any kind were changed, nor were any housing programs cut. The bill passed the House and Senate on strong bipartisan votes: 269 – 161 in the House and 74-26 in the Senate. A potential debt default has been averted.  For more information; http://www.ksefocus.com/billdatabase/clientfiles/172/4/1300.pdf

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