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Tax Reform A report issued by a Presidential Tax Reform Advisory Panel in November 2005 recommended proposals that, in NAR's view, will drive down real estate values and devastate the nation's housing economy. No action was expected by Congress in 2006 to implement the panel's recommendations and future actions remain uncertain. In the interim, NAR stands firm that the homeownership tax provisions are among the most widely used and most readily understood provisions. NAR maintains that reducing real estate tax benefits could drive down property values and negatively impact the nation's economy. |