President-Elect Real Estate Reforms to Keep an Eye on as Democrat Wins Split Senate Seats in D.C.

Real Estate reforms sought by president-elect Joe Biden as part of his campaign priorities may have a better chance of making it to the floor now that the Democrats hold half of Senate seats. However, it should be kept in mind that at least 10 Republicans will still need to be won over to reach the minimum requirement of 60 votes to overcome a filibuster—a way for one person to delay or entirely prevent debate or votes on a specific proposal. Proposed real estate reforms highlighted will affect SALT deductions, 1031 exchanges, Opportunity Zones, the next round of stimulus, and the federal eviction moratorium.