RPAC

REALTORS® Political Action Committee (RPAC) is one of the most powerful political constituencies in the nation. By becoming involved and making your voice heard, you are ensuring the longevity of private property rights and the real estate industry. Each contribution to RPAC is an investment – the very best investment you can make for your business, your future and your family.

RPAC supports candidates who share your views on real estate issues. RPAC is the most bipartisan PAC in the country today, supporting REALTOR® friends regardless of political party. The way to maximum your political clout is to join forces with thousands of like-minded people. That’s why you have the REALTORS® Political Action Committee. Every contribution you make is pooled with literally tens of thousands of other contributors supporting candidates who understand the issues that affect your business, your community and your future. Contribute today!

What has RPAC done for me?
Recent legislative and regulatory successes include:

• Prohibited large banking conglomerates from entering into brokerage and property management
• Passed the Fair Credit Reporting Act so that consumers will be entitled to receive one free created report annually Reduced capital gains rate from 20% to 15% Reduced come tax rates to top rate of 35%
• Defeated proposal that would have undermined the Low Income Housing Tax Credit Started a new initiative to implement the American Dream Downpayment program that will provide direct financial assistance to lower-income families and facilitate their purchase of a home
• Started a new initiative to pass bills that would create a tax credit for developers and investors who build or rehabilitate single-family residences for purchase by below-median income individuals and families
• Reauthorized the National Flood Insurance Program and assisted the Department of Homeland Security in obtaining $200 million to update flood plain maps and make them available online
• Developed a comprehensive literature review on the health effects of exposure to mold
• Helped pass legislation (HR. 1115) that takes a first step on tort reform by curbing abuses of the class action system
  Persuaded the Federal Communications Commission (FCC) to delay the effective date of the new Do-Not-Fax rules as they relate to Existing Business Relationships and the requirements for written consent until January 2005

What is RPAC’s 2005 Federal Priority Issues?

1. Banks in Real Estate – NAR won prohibition on banks in real estate for another year in 2004 when the 108th Congress approved its omnibus appropriations bill containing another one-year prohibition against large banks entering the real estate brokerage, leasing and property management business. The one-year prohibition effectively continues the ban on large banks that has been in operation for the past three years. House leaders removed a provision in the bill that would have permanently prohibited these banks from entering the real estate industry. The House bill, H.R.111, as well as the Senate Bill, S. 98, were reintroduced in the 109th Congress in 2005.
2. Association Health Plans– NAR supports the creation of federally-certified small business health plans (SBHPs), also known as association health plans (AHPs) to allow state REALTOR® Associations to extend health insurance coverage to members. In the 108th Congress, the House passed its bill, but the legislation lacked support in the Senate. In 2005, H.R. 525 and S. 406, the Small Business Health Fairness Act, have been introduced into the 109th Congress. NAR continues to work with the National Federation of Independent Businesses-led SBHP coalition on efforts to advance the legislation in the 109th session of Congress.
3. Tax Reform – NAR anticipates an active tax year. The President and House Republican leaders have indicated interest in engaging a debate about tax reform, perhaps favoring a national sales tax. The implications could be tremendous for the real estate industry. In 2005 NAR will vigorously defend the mortgage interest deduction and homeownership/investment tax benefits from any efforts to reform the tax system.
4. GSE Regulatory Refrom – Congress is expected to again pursue efforts reforming the regulatory structure of the housing government sponsored enterprises (GSEs) – Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. In 2005 NAR is closely monitoring efforts to reform GSE regulation and working to protect the mission that the housing GSEs play in making housing more affordable for families.
5. Do Not Call/Fax/Email Rules – NAR has been effective in convincing the Federal Trade Commission and Federal Communications Commission to modify proposed rule changes and protect members from unfair, costly and tedious changes to their marketing practices. NAR was instrumental in getting the FCC to extend until June 2005 its stay of effective date of the Do-Not-Fax rules. In 2005 we’ll be working with Congress to reintroduce and enact a junk fax bill to protect NAR members from unfair and costly changes to their marketing practices.
6. RESPA - NAR worked with Congress and urged the Department of Housing and Urban Development to withdraw its proposal reforming the Real Estate Settlement Procedures Act (RESPA). The objectives of the proposed rule were to simplify and improve the process of obtaining mortgages to reduce settlement costs to consumers. However, the real estate industry objected to the proposal contending that it would reduce competition, increase prices and dramatically reduce the options and services for consumers. HUD Secretary Alphonso Jackson has indicated that he remains committed to RESPA reform and would re-propose the rule after consulting with Congressional leaders and affected industry groups. In 2005 NAR will work with HUD to best represent the interests of REALTORS and consumers in the RESPA rulemaking process.
7. Federal Preemption of State Real Estate Laws - In 2005 NAR will continue to urge Congress to maintain vigilance and not abdicate its responsibilities and permit such policy-making by regulation to proceed unchecked.