Dear Members and Friends,
The IPA and a group of our members representing asset managers, broker-dealers, registered investment advisers and practitioners met with key members of Congress, their staff and Committee staff to continue to educate them on the value and importance of 1031 like-kind exchanges.
Like-kind exchanges have been a part of the U.S. tax code for nearly 100 years. Due to the IPA’s efforts, along with our broader coalition partners, during passage of the 2017 tax law (i.e., Tax Cuts and Jobs Act), 1031 like-kind exchanges for real property were retained and protected. As the treatment of 1031 exchanges continues to be at risk to pay for other changes to the tax code and to fund federal spending, the IPA emphasized the vital importance of 1031 exchanges for companies, investors and the greater economy. We brought stories of the impact of 1031 exchanges on “mom and pop” retail investors, small businesses and investors planning for retirement. Our message was well received by key policymakers.
Following our IPA 1031 Hill day, the IPA PAC hosted a dinner for Rep. Suzan DelBene (D-WA), a member of the House Ways and Means Committee, who understands and supports our industry and recognizes the value of the 1031 like-kind exchange market.
As we face an election year, it’s critical that the IPA engage members of Congress on important legislative issues at the forefront of our industry.
The IPA sends a special thank you to each of our members that participated in this impactful Capitol Hill day: Branden Balkman, Senior Vice President, Mountain Dell Consulting; Alan Feldman, CEO, Resource Real Estate; Jackie Hawkey, Managing Director, Black Creek Group; Jason Goode, Partner, Alston & Bird; Chris Milner, Head of Investment Management, Cantor Commercial Real Estate; Dan Wagner, Senior Vice President, Inland Real Estate Group; Michael Marohnic, Director, Griffin Capital; Josh Hoffman, President, Bluerock Value Exchange; Tim Witt, Director, Concord Investment Services; Mike Bendix, CEO, DFPG Investments; Warren Posner, Director of National Accounts, Nelson Partners; Mark Kosanke, Board Member, Concorde Holdings; Margo Steahly, National Sales Director, Capital Square.
Sincerely,
Anya Coverman
SVP, Government Affairs and General Counsel
Institute for Portfolio Alternatives