NAR Letter to White House Urging Additional Relief for COVID-19

NAR sent a letter to the White House this week, urging further relief during the COVID-19 pandemic. The letter included a number of provisions to help REALTORS® and real estate remain a strong force in our economy. The proposals included:

• Reforms to the PPP program (some of which were subsequently addressed in the "PPP Flexibility Act," which passed this week and is expected to be signed by the President).

• A reduction in the minimum loan amount for financial relief under the Federal Reserve Main Street Lending Program to allow more small businesses and non-profits to access yet another avenue of financial assistance that may better fit their business needs.

• Support for liability protections for businesses that reopen following federal and state guidelines.

• Housing relief for renters including emergency rental assistance, as well as relief for rental housing providers.

• Expansion of forbearance and unemployment assistance.

• Reforms to the opportunity zones program to encourage investment.

• Elimination of the marriage penalty in the State and Local Tax (SALT) deduction.

• Support for remote notarization legislation.

NAR continues to work with the Administration and Congress on common sense solutions that provide relief during these unprecedented times.

------------------------------ Sarah Young National Assn of REALTORS Washington DC 202-383-1233 ------------------------------