For more than nine years, the National Association of REALTORS® has worked with Congress to address the growing need for reforms to our nation’s health insurance system.
However, NAR did not take a formal stance for or against the Affordable Care Act (ACA), passed in 2010. Instead, NAR worked with members of Congress from both sides of the aisle to address the many concerns of our members. NAR participated in discussions that shaped the self-employed and small business underwriting provisions of the ACA. NAR submitted testimony at Congressional reform hearings, Congressional letters outlining our position on various proposals, and regulatory comment letters.
Additionally, NAR ran a series of print ads advocating for bills that focused on small business health coverage reforms from May 2005 through July 2009.
Position on 3.8% Tax
NAR opposed the 3.8 percent tax on investment income (defined as interest, dividends, capital gains and net rents), which will be enacted on Jan. 1, 2013. The tax is NOT a transfer tax on real estate sales. Rather, it is a tax on all types of investment income.
The 3.8 percent tax provision was a last minute addition to HR 4872, the Budget Reconciliation Act. NAR expressed its opposition to the new tax provision to tax committee staffs and sent a strongly worded letter to Congress opposing the new revenue raiser. An article on Realtor.org about the 3.8 percent tax provides additional details about the topic, as well as links to information that can educate members on the subject.
More on NAR’s Position on Health Care Reform
NAR’s advocacy efforts are based on the NAR Health Policy Principles developed by an NAR Presidential Task Force and approved by the NAR Board of Directors.
Read the comprehensive health care reform FAQ on advocacy, which addresses topics like the individual mandate, employer mandates, a public option and health insurance Exchanges.
Visit our issue summary for the current legislative/regulatory status on the Affordable Care Act.