Members and Friends –
On October 10, a team of IPA leaders, Member firm tax experts and our partners at the Eris Group, met directly with targeted Congressional and Senate offices to discuss our key priorities in any tax reform bill.
The IPA and our coalition partners remain committed to working with Congress to achieve a bold tax reform outcome that:
- Excludes commercial real estate from the immediate expensing provision;
- Preserves the net interest expense deduction for commercial real estate partnerships and LLCs, Real Estate Investment Trusts (REITs) and Regulated Investment Companies (RICs);
- Retains Section 1031 of the Code to preserve the ability to continue an investment in like-kind properties.
I would like to personally thank the leaders who dedicated their time to advocate on behalf of the industry, including: Dan Cullen (Baker McKenzie), Kamal Jafarnia (WP Carey), Tim Witt (Concorde Investment Services), Cam Hellewell (Orchard Securities), David Fisher (ExchangeRight) and Rahul Sehgal (Inland Private Capital).
We will continue to keep you informed on the tax reform issues specific to our industry. In the months ahead, we will work with IPA membership to: EDUCATE, ADVOCATE and MOTIVATE!
Thank you,
Anthony Chereso
President and Chief Executive Officer
Investment Program Association
