A study commission by the Real Estate Roundtable, releasedtoday, for instance, finds that the cost of this proposal, ifimplemented into law, could reach $20 billion or more. Such a law,Douglas Holtz-Eakin, former Director of the Congressional BudgetOffice and author of the study, told reporters during a conferencecall, will certainly not be the minor event as it has beencharacterized.
Holtz-Eakin points to declining jobs in such industries asconstruction, the pullback of capital from the riskiest developmentprojects--such as those that require environmental remediation orare in inner city districts--and the wasted resources sure to bespent on devising structures to avoid the tax as likelyresults.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
