Prioritizing the Issues that Matter

By the time you’ll be reading this, the results of the November election will hopefully be settled. Whatever the outcome of the federal election, rest assured our mission remains the same—protect private property rights, homeownership, the real estate industry, and Realtors®

On the federal level, here are some of the issues of priority we’ll be working on with the national association and why they matter in New Jersey:

Independent Contractor Status

We worked for more than a decade in a multi-faceted lobbying effort to secure New Jersey protections to preserve your right to work as an independent contractor. Federally, the Direct Seller and Real Estate Harmonization Act would ensure similar protections under the Fair Labor Standards Act.

State and Local Tax Deduction Cap Elimination

Perhaps one of the hottest federal topics in New Jersey, we support the elimination of the SALT cap and removal of the marriage penalty. We supported Sen. George Helmy’s introduction of the Tax Relief for Middle Class Families Act of 2024, which would raise the SALT deduction cap and would be retroactive. We also supported Rep. Josh Gottheimer’s public report to the House Ways and Means Committee on the importance of restoring the full SALT deduction.

While the cap does expire in 2025, the possibility for extension exists, which we will fight against.

Addressing Affordability Through Adding Inventory

We support the national association’s backing of adding to the nation’s limited housing inventory, which should help with affordability. Some proposed bills would have decreased the equity penalty to encourage long-term owners to finally sell. Others would encourage building development and reducing barriers.

National Flood Insurance Program

For years, we’ve fought for a longterm reauthorization of the National

Flood Insurance Program, which must be reauthorized by Dec. 20, 2024, to continue operating.

The lapse of the NFIP threatens the ability to buy and sell homes in flood hazard areas, of which New Jersey has many.

Proposed Tax Plans

There are some provisions of the Tax Cuts and Jobs Act of 2017 that are set to expire in 2025. We’re keeping a close eye on any proposed tax plan to take its place which could reshape the tax landscape.

Jarrod Grasso

CHIEF EXECUTIVE OFFICER