Agenda
Marriott Wardman Park Hotel
Virginia Suite, Lobby Level
Washington, D.C.
Tuesday, May 12, 2009
12:00 PM – 1:00 PM

Presiding: Don Faught, C.A.R. Federal Issues Committee Chair

Staff: Matt Roberts, Federal Governmental Affairs Manager

REALTORS® Federal Legislative Priorities:

1.Move the Housing Market Forward and Safeguard Our Communities
a.Fortify Fannie Mae and Freddie Mac to ensure capital for mortgage lending in all markets,
b.Make the 2008 loan limit formula and caps permanent to provide fair, affordable financing for all borrowers, and
c.Extend the $8,000 homebuyer tax credit to all homebuyers to encourage purchases.

2.Health Care Coverage for the Self Employed and Small Businesses
a.Any legislative reform effort must address the unique set of issues that face the self-employed and small businesses in finding affordable health insurance coverage,
b.The self employed, independent contractor, free-lance and small business work force must be afforded the same health insurance coverage terms, underwriting consideration and tax treatment available to larger firms, and
c.Cost containment/affordability must be a part of any proposed plan.  Insurance that is cost-prohibitive is no solution to the problems faced by the self-employed and small employers.

3.Preserve the Mortgage Interest Deduction
a.Any proposals that would reduce or limit the MID would undermine consumer confidence in the housing market at a time when the goal is to stabilize housing prices and sustain homeownership, and
b.Now is not the time to change the MID

4.Energy Efficiency in Homes and Buildings
a.Enact energy efficiency legislation for homes and commercial buildings that provides tax credits, financial incentives, and educating consumers on the benefits of energy efficiency.
b.Oppose energy labeling mandated at point-of-sale.

5.Stabilize and Provide Liquidity to Commercial Real Estate Markets
a.Having a sound and functioning commercial and multifamily real estate sector is critical to our country’s economic growth and development,
b.NAR strongly supports the Treasury’s decision to expand the initial reach of the Term Asset-backed Securities Loan Facility (TALF) program to include CMBS;  TALF loans used to finance the purchase of CMBS must be extended beyond three years to accommodate the longer term nature of commercial real estate lending, and
c.Congress must maintain the capital gains tax rate at the existing 15 percent.