1031 Repealed Would Mean Rising Costs for Consumers

[Editor's note: 1031Gateway supports the efforts of groups like www.SaveThe1031.org, which is exposing the devastation this tax reform proposal would unleash on our economy and mobilizing Americans to make their opposition known to Congress in order to stop this bill. Please visit www.SaveThe1031.org and fill out their form to directly send individual letters to your representative and senators in Congress, urging them to fight for the 1031 exchange.]

"Experts say caps or restrictions to 1031 exchanges would be chilling to the economy; airline, construction and rental-car companies save millions annually by exchanging older assets for new ones. Should their 1031 savings be capped, the cost of everything for the consumer would go up and the real estate industry would be hit hard, said Scott Saunders, FEA board member and senior vice president at Asset Preservation in Colorado Springs, Colorado...

Last year a National Association of Realtors member survey found that 63 percent of Realtors participated in a 1031 exchange over the past four years. About 40 percent of respondents said that, without them, those transactions would not have occurred at all. About 56 percent said the projects would have been smaller in scale."


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