NJAA Takes to Capitol Hill to Press for Action on Federal Legislative Priorities
March 20, 2015
The New Jersey Apartment Association (NJAA) took to Capitol Hill as part of the National Apartment Association’s (NAA) annual Capitol Conference.
NJAA representatives met with Congresswoman Bonnie Watson Coleman, Congressman Scott Garrett, and Congressman Tom MacArthur to highlight the importance of the apartment industry to our national economy. In New Jersey, the apartment industry provides more than 44,000 jobs, contributes $5.7 billion toward New Jersey’s State GDP, and pays more than $1 billion annually in local property taxes.
NJAA highlighted the benefits of maintaining the current tax treatment of flow-through entities, carried interest, and IRS Section 1031 Like-Kind exchanges as Congress discusses comprehensive tax reform proposals. Additionally, we discussed housing finance reform efforts to replace the current model of Fannie Mae and Freddie Mac. We also discussed issues concerning both military housing and affordable housing, which are financed at the federal level and are at risk of cuts through the Budget Control Act of 2011, including sequestration.
The NAA holds an annual lobby day where state and local apartment associations across the country utilize local relationships to deliver the message to Congress about issues concerning the multifamily industry. This year, NAA used this occasion to re-launch its award winning campaign: Apartments. We Live Here.
Pictured Above (Left to Right): Nicholas Kikis & David Brogan, NJAA; Congressman Scott Garrett; and Michael Beirne, Vice President of Kamson Corporation.