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Tax reform is an important process to get the country going and growing faster and providing more jobs for Americans. Thank you for your work on this crucial process!
As Congress is making final decisions on tax reform, please ensure that you continue to protect working and middle class Americans and small businesses that depend on tax policies such as the Like Kind Exchange (Section 1031) provision and interest deduction for small business and real estate owners. These provisions in the tax code are designed to ensure that average Americans are not taxed on income and gains that they never earn.
Working and middle class Americans and small businesses are counting on your help. Interest deductions for small business and real estate, along with the 1031 exchange, are vital to business operations and making real estate affordable for individuals. Losing these provisions would lead to a massive real estate crash and deep recession along the lines of what we experienced in 2008-2009.
These items are critical to our economy and would cause the loss of hundreds of thousands of jobs if not retained.
Please protect our jobs and our economy! Keep section 1031 and interest expense for small business and real estate.