WASHINGTON, DC–Over the weekend the US Senatepassed its version of the Tax Cuts and Jobs Actbill in a vote that came down to 51-49. Among many otherchanges to tax law the bill lowers the top corporate tax rate from35% to 20%.
As for the commercial real estate industry, the Senate billtreats commercial real estate in a similar fashion to the Housebill, give or take.
Read Real Estate Roundtable Explains Congress' Tax ReformProposals
Both bills, for example, have new limitations on the ability ofbusinesses to deduct interest on their debt — but both bills exemptfrom these restrictions interest on debt incurred in a “realproperty trade of business”
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
