IPX1031 Insight Blog

1031 Update on Capitol Hill – Senate Amendment Voice Vote – August 2021

August 2021

On August 11, the U.S. Senate approved an amendment to preserve Section 1031 in its current form.  The amendment was offered by Sen. Kennedy (R-LA) as part of the budget resolution Vote-a-Rama, and it passed by unanimous voice vote.  While the passage of this amendment to the FY2022 Budget Resolution to retain like-kind exchanges is very encouraging, our work is far from over Vote-a-Rama votes are NOT binding and do not amend a bill or existing law.  It’s still possible that the final budget reconciliation bill could contain limits on Section 1031 Exchanges. Remember the House will weigh in on the final bill.  While it’s good news that our voices are being heard, we cannot let up on our advocacy efforts.

Section 1031 will be in the line of fire when Congress turns to the budget reconciliation bill starting in September.  We must continue our work nonstop to insure that Section 1031 is preserved.

Continue to contact Congress and urge them to preserve Section 1031 in full.  Your letters are making a difference.


IPX1031 Tax Reform resources

Locate a 1031 Expert In Your Area

Recent Posts

Be Prepared If Your 1031 Transaction Needs to Go in Reverse

1031 Exchange transactions continue to be on the rise. What’s also trending is the need for Reverse Exchanges. With limited available inventory and the need to secure your ideal Replacement Property, you may find yourself in a situation where a Reverse Exchange is...

1031 Exchange Trends and Info for 2024

2024 is underway! Below are key trends, issues and points regarding 1031 Exchanges and Commercial Real Estate.  1031 Exchange Trends and Market Update 2024 After a challenging 2023 year for Commercial Real Estate and 1031 Exchange transactions, what’s in store...

Pin It on Pinterest