Congress, Make Tax Reform Take the Long View

Posted on August 8, 2017

Written by Thomas J. Bisacquino

The world today moves faster than it ever has before. Smartphones provide immediate access to people and information. Retailers deliver with blinding speed, often the same day. But not everything should, or can, be immediate. That’s true in tax policy, and in commercial real estate (CRE).

In the CRE industry, owners and operators often must wait years, even decades, to recoup their investments. Meanwhile, they keep pouring further spending into their properties to keep them up to code and to deliver the perks tenants demand. CRE doesn’t deliver immediate rewards, but forces owners to make the necessary long-term investments that will pay off for them and the economy.

Likewise, as they look at ways to reform the nation’s tax code, lawmakers should also be taking the long view. Any changes should be geared to deliver long-term economic growth, rather than be an attempt to answer short-term federal budget revenue needs in ways that could harm the patient investors the economy needs.

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