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Help the REALTOR® Action Fund Protect the Real Estate Industry
August 24, 2017
The REALTOR® Action Fund (RAF) is a vital resource in protecting REALTOR® related issues because it funds the REALTOR® Political Action Committees (PACs).
These PACs fight against bills that are a disservice to REALTORS® and support those that only advance the real estate industry.
Here are just a few issues that the fund has achieved this year alone:
- Preserved the Mortgage Interest Deduction for Second Homes that would have been eliminated by the AB 71 bill.
- Through the PAC’s Statewide Red Alert mobilization, the AB 71 bill was opposed and even influenced the issue on the federal level.
- Defeated LA County Measure S, an anti-development measure that would have imposed a moratorium of 2 years on building projects that require city-approved zone changes, thus halting housing production in LA County.
- Blocked State Senator Hertzberg’s Service Tax bill SB 640, which could have resulted in a 7.5% service tax that would increase the cost to buy or sell a median priced home by over $5,000, pricing out 55,000 households from the market!
The Fight Ahead
A potential Statewide Service Tax continues to loom.
State lawmakers are looking for new sources of revenue in the form of Service Taxes, which will hit the real estate industry hard.
Proponents of a Service Tax in California, like Senator Hertzberg, have promised to continue their efforts at the State Capitol and as a ballot measure.
Funds from the REALTOR® Action Fund will play a major role in not only keeping Service Tax legislation at bay, but also in voter education efforts should this tax make it onto the ballots in 2018.
The only way the PAC’s can continue their work is by funding the REALTOR® Action Fund.