Evening Edition: Biden Proposal Impacts Various Sectors Of Real Estate

The Fox News Rundown

FOX News Podcasts

Daily News, News, Politics

3.4 • 1.7K Ratings

🗓️ 29 April 2021

⏱️ 11 minutes

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Summary

President Biden's proposal to increase the capital gains tax is inherently aimed at taxing the wealthy but it does also have a major impact on property sales of the middle-class. Real estate experts fear eliminating the 1031 tax deduction will severely hurt those selling residential properties, including single-family rental homes, apartment buildings and condominium units. FOX's Trey Yingst speaks with Al Lord, the founder of Lexerd Capital Management, who says he worries the proposed change will damage multiple facets of the real estate industry. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hi all how we doing afternoon afternoon let's get this meeting meeting meeting
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0:26.7	Work mode with EE smart hub plus to verify the EE.
0:28.9	C EE dot credit eK slash claims.
0:30.1	I'm Brad Bear. I'm Maria Bartiromo.
0:32.0	I'm Brian Kilmeade and this is the Fox News rundown.
0:35.8	Thursday April 29th, 2021.
0:39.4	I'm Trey Yanks. President Biden's economic proposal would close a widely used
0:46.7	real estate tax loophole.
0:48.0	I think Democrats and Republicans are both going to speak up about this. This affects everybody, this affects the broader economy.
0:55.4	It will lead to fewer jobs, it will lead to less investment. There's a number of knock-on effects
1:02.2	that will happen as a result.
1:04.5	This is the Fox News rundown, evening addition.
1:12.1	From higher taxation on capital gains to closing loopholes, the Biden tax proposal is being
1:17.4	reviewed by both sides of the aisle. A tax break for real estate investors used since
1:21.7	1921 would be on the chopping block, along with other economic
1:25.7	items.
	...

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