Economic Growth

A rising economic tide lifts all boats. Economic growth is essential to a robust housing market in which real estate agents, lenders, and consumers freely engage in commerce. Unfortunately, the federal government has made it incredibly difficult for individuals and families to achieve the American dream. Runaway federal spending is leaving the current and future generations of Americans with overwhelming debt. Total federal debt is approaching $20 trillion and isn’t showing signs of slowing down.

To pay for the government’s irresponsible spending, American families and businesses are saddled with high tax rates and then punished with additional taxation if they chose to save or invest their hard-earned money. Corporate, estate, and capital gains taxes discourage businesses and individuals from saving and investing, posing a significant threat to a robust real estate market.

On top of this, federal regulation, especially in the energy sector, has made the cost of starting and growing a business harder than ever. The sheer number of pages of federal regulations has grown from under 10,000 in 1954 to nearly 80,000 by 2014. This not only makes it more difficult for real estate agents to do their job and serve home buyers with access to credit, but it also shrinks the size of the real estate market which real estate professionals can participate in.

A strong economy — secured by reining in out-of-control federal spending, enacting pro-growth comprehensive tax reform, and peeling back over regulation — is essential to the economic well-being of all real estate professionals and potential home buyers. Congress must take action to cut spending, enact pro-growth tax reform, and reduce government regulation. Doing this will grow the economy and inject life back into the real estate market.

Briefs

Regulatory-Energy Reform

Background: In the last few decades, innovative technologies dramatically expanded the amount of available oil reserves in the United States. U.S. natural gas reserves have…

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Reining in Out-of-Control Government Spending and Debt

Background: Over the last ten years, federal government spending has been at a higher level than it’s ever been in American history. In fiscal year…

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Comprehensive Tax Reform

Background: Our current tax code is 20 years outdated and in desperate need of reform for a number of very important reasons. First, our tax…

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Blog posts

Tax Reform a “First Priority” Under the Trump Administration

President-elect Donald Trump has been making a number of administrative appointments over the last few weeks. On Wednesday, President-elect Trump nominated a former Goldman Sachs…

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U.S. District Court Halts Overtime Rule Just in the Nick of Time

The U.S. District Court in the Eastern District of Texas halted the implementation of the Department of Labor’s (DOL) overtime rule just as it was…

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Grave Digging in Iceland, Tofu in Convenience Stores: Your Tax Dollars at Work

By Rachel del Guidice The national debt is expected to hit $20 trillion early next year. Sen. James Lankford has a few ideas to start…

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Three Key Reforms for Federal Water Policy

By Daren Bakst, Research Fellow in Agricultural Policy at the Heritage Foundation For decades, the Environmental Protection Agency (EPA) and the U.S. Army Corps of…

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The Federal Regulations That Affect Your Thanksgiving Foods

By Diane Katz, research fellow in regulatory policy at the Heritage Foundation This being the fourth Thursday of November, we turn our attention to the…

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The Pathway Out of Paris

By Nicolas Loris and Steven Groves, The Heritage Foundation As climate negotiators work out the details of the Paris Agreement on global warming in Marrakech,…

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Return of Earmarks Would Boost the Ruling Class

By Mike Needham, CEO of Heritage Action for America Banning congressional earmarks was one of the signature accomplishments of House Republicans over the last several…

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Federally Mandated Paid-Leave: Bad for Employers and Workers

Politicians in both the Democrat and Republican parties have indicated support for federally mandated paid-leave. While on the surface this may sound like a good…

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Obama’s 6 Biggest Domestic Policy Blunders

https://www.youtube.com/watch?v=8MwheHhoPpA After almost eight years in power, it’s a good time to ask: What has the Obama administration wrought? Watch this video by the Daily…

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Heritage Action Opposes Special Tax Breaks for Renewable Energy

Members of Congress will return to Washington, D.C. after the Presidential election on November 14th for a lame-duck session of Congress. Historically speaking, politicians use…

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Rising Red Tape Near Top of Small Business Fears

By Jessica McBirney and James Gattuso, The Heritage Foundation Far from equipping small businesses “with the tools and resources they need to succeed,” government actions…

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The Government Just Spent $168 Billion More Than the Year Before

By Romina Boccia, Research Fellow on federal spending and debt at the Heritage Foundation New numbers on federal spending are in from the Congressional Budget Office,…

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Obama Fair Housing Rules Open Door to Unintended Consequences

By Salim Furth, Ph.D. Research Fellow, Macroeconomics at the Heritage Foundation The Obama administration is pulling on both ends of the rope in the tug…

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Obama’s New Death Tax Threatens Family Farms and Businesses

Special Guest Blog: Congressman Warren Davidson (R-OH) We all knew President Barack Obama’s lame-duck presidency would be bad, but for the millions of Americans who…

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The State of Tax Reform in 2016

By Curtis Dubay, Heritage Foundation Economic & Tax Expert Tax reform remains a central issue in Washington because of its overwhelming necessity. Tax reform is…

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Video: What Pro-Growth Tax Reform and Conservative Health Care Reform Should Look Like

https://www.youtube.com/watch?v=b9ev9fB2UU0 Watch Heritage Foundation scholars Paul Winfree and Ed Haislmaier, along with CEO of Juniper Research Group Chris Jacobs, discuss the impact that an outdated tax…

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Unleash America’s Energy Resources

The U.S. economy added 151,000 jobs in the month of August, roughly 30,000 less than the 180,000 jobs many economists predicted. The unemployment rate was…

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Obama shows what not to do on climate policy

By Nicolas Loris, Heritage Foundation Energy & Environmental Expert President Obama sets off for his final Asia trip as commander in chief this week, and…

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Clinton’s Small Business Plan is More Government

Democrat presidential nominee Hillary Clinton will roll out her plan to make American small businesses great again, or in her words: “to support small businesses…

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Why Real Estate Professionals Should Care More about Economic Growth than the U.S. Homeownership Rate

The U.S. homeownership rate recently fell to its lowest level since the Census Bureau began tracking the figure in the mid-1960s. At 62.9 percent, many…

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Should the Federal Government Regulate Greenhouse Gases?

Heritage Action recently joined energy groups and other conservative organizations in sending a letter to Representative Evan Jenkins (R-WV) thanking him for introducing his latest…

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House Passed Interior-EPA Spending Bill a Mixed Bag

Last Thursday, the House of Representatives passed a $32.1 billion Fiscal Year 2017 Interior-EPA spending bill (H.R. 5538) by a vote of 231 to 196.…

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National Flood Insurance Program (NFIP) Does More Harm than Good

In testimony before the Senate Committee on Small Business and Entrepreneurship earlier this month, the vice chairman of the National Association of Realtors’ (NAR) Insurance…

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FAA Issues New Regulations on Unmanned Aerial Systems (UAS)

The Federal Aviation Administration (FAA) just made it harder for real estate professionals to use drones when buying or selling property. Set to take effect…

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How Tax Reform can Improve Home Affordability

According to a national 2016 How Housing Matters Survey, commissioned by the MacArthur Foundation, 81 percent of respondents believe housing affordability is a problem while…

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Blueprint for Pro-Growth Tax Reform Released

Last Friday, House Republicans released a blueprint for comprehensive tax reform as part of the GOP’s larger campaign reform agenda named “A Better Way.” While…

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Heritage Action Praises Tax Reform Task Force

Washington — Today, the House Republican’s tax reform task force released its policy recommendations. Last December, Speaker Paul D. Ryan promised to “show what we would…

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Government Regulation Driving Up the Cost of New Home Construction

A new study conducted by the National Association of Home Builders (NAHB) concludes that the average cost for home builders to comply with local, state,…

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House Passes Legislation Expanding Consumer Choice in Flood Insurance Marketplace

On Thursday, the House of Representatives passed H.R. 2901 – Flood Insurance Market Parity and Modernization Act introduced by Representative Dennis Ross (R-FL). Passed by…

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Senate Fails to Defund Waters of the U.S. Rule

Last week, the Senate failed to pass an amendment preventing the Environment Protection Agency (EPA) and the Army Corps of Engineers from using federal funds…

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Congress considering energy bill that would expand federal ownership of private land

The U.S. Senate is set to debate and consider the Energy Policy Modernization Act of 2015 (S. 2012) over the next few months. One provision…

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President Obama’s latest budget: A bad deal for real estate professionals

This month, President Obama released the 8th and final budget of his presidency. Unfortunately for realtors, his budget includes a number of proposals that if…

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