News & Issues: Around the SRA

Lend your voice to the 'REALTOR' Party!

By Jamie Ridge, President/CEO

Spring/Summer 2009

The political news coming from Washington, DC these days has been unsettling, to say the least. Seldom in history have there been more ideas pushed forth to jump start the housing market, regulate mortgage lenders, and spend trillions of dollars on stimulus projects meant to right the ailing economy. With multiple legislative proposals currently on the table that could significantly impact REALTORS® and real estate, there has never been a better time for you to protect your business through an investment in RPAC.

While REALTORS® belong to various political parties and represent the entire ideological spectrum from liberal, to conservative, to libertarian, there is no question that we all want to protect the industry that provides our livelihoods. Through RPAC, the REALTOR® Political Action Committee, the voices of our more than 1 million members become united on issues that are vital to the real estate industry and the nation’s economic recovery.

The RPAC Legislative Agenda

• GSE Reform – RPAC is advocating a continued key role for Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac. Without the presence of these two mortgage giants, there is little hope that mortgage lending will return to normalcy in all markets and in all market conditions.

• Mortgage Loan Limits – RPAC is advocating that Congress make the recently     increased conforming (GSE) and FHA loan limits permanent.
• Homebuyer Tax Credit – RPAC is advocating that Congress expand the $8000 first-time homebuyer tax credit to include all homebuyers and increase the price point.
• Preserve the Mortgage Interest Deduction (MID) – RPAC opposes any changes to current law. The MID is a remarkably effective tool that facilitates homeownership. While only about 30 percent of all taxpayers in any given year itemize their deductions, more than ¾ of homeowners utilize the deduction over the period they own their home.
• Enact Health care coverage for the Self-Employed and Small Businesses – RPAC is advocating that Congress pass legislation to correct the inequities in the nation’s health insurance delivery system. 
• Adopt Reasonable Approaches to Energy efficiency – Congress is moving rapidly to consider legislation to make our nation’s commercial and residential buildings more energy efficient.  NAR is advocating commercially reasonable, incentive-based approaches to energy conservation.  NAR strongly opposes requirements which impose undue economic burdens on property owners or managers.

 Remember, even a small RPAC investment will help ensure that your voice is added to the “REALTOR® party.” At this crucial time in our history, you can’t afford not to invest in RPAC!