The Capitol

WASHINGTON, DC–Over the weekend the US Senate passed its version of the Tax Cuts and Jobs Act bill in a vote that came down to 51-49. Among many other changes to tax law the bill lowers the top corporate tax rate from 35% to 20%.

As for the commercial real estate industry, the Senate bill treats commercial real estate in a similar fashion to the House bill, give or take.

Read Real Estate Roundtable Explains Congress’ Tax Reform Proposals

Both bills, for example, have new limitations on the ability of businesses to deduct interest on their debt — but both bills exempt from these restrictions interest on debt incurred in a “real property 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.

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