CRE Finance Council is a trade association that is...

  • Dedicated exclusively to the nearly $6 trillion commercial real estate finance industry
  • Committed to promoting strong & liquid debt markets across platforms
  • The meeting place for industry professionals
  • The platform for establishing best practices, industry standards & federal policy
  • Comprised of approximately 400 companies and 19,000 individual members

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News Archive

News

Trump Aims to Close Carried Interest “Loophole” in Tax Bill

February 11, 2025

After meeting with House Republicans the White House press secretary outlined President Donald Trump’s tax priorities, which now include eliminating capital gains tax treatment for carried interest income.

Why it matters: Carried interest is a share of a fund’s profits — typically 20% — earned by investment managers as compensation, which is taxed at the lower capital gains rate rather than as ordinary income if certain conditions are met. Post enactment of the 2017 tax bill, real estate maintains greater flexibility in carried-interest treatment than other investments. 

  • President Trump has long been against carried interest treatment, but it survived the 2017 tax bill—with several key changes—and had not been part of the current conversation. 
  • The president’s current focus puts the treatment in much greater peril amid slim Congressional majorities.
Go deeper: 


White House Press Secretary Karoline Levitt
outlined Trump’s tax priorities as discussed with the House GOP: 

  • Extend the Tax Cuts and Jobs Act, 
  • Eliminate taxes on tips, Social Security benefits, and overtime pay, 
  • Fix the state and local tax (SALT) deduction,
  • (NEW) Eliminate tax breaks for billionaire sports team owners, 
  • (NEW) Close the carried-interest tax loophole, and 
  • Cut taxes on products made in America.
What’s next: The carried interest issue likely will mobilize key supporters of the provision, including the real estate sector, to oppose any changes to the current arrangement. While Trump has greater sway in Congress than in 2017, carried interest continues to enjoy strong support in both narrowly divided chambers. 

See our story on reconciliation for an update on the political jockeying around process. 

Contact David McCarthy (dmccarthy@crefc.org) with any questions.
 

Contact  

David McCarthy
Managing Director, Chief Lobbyist, 
Head of Legislative Affairs
202.448.0855
dmccarthy@crefc.org
The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2025 CRE Finance Council. All rights reserved.
Trump Aims to Close Carried Interest “Loophole” in Tax Bill
February 11, 2025
After meeting with House Republicans the White House press secretary outlined President Donald Trump’s tax priorities, which now include eliminating capital gains tax treatment for carried interest income.

News

First 100 Days: Trump Cabinet Nominee Update

February 11, 2025

President Donald Trump’s cabinet nominees are in various stages of the confirmation process with nine officials confirmed by the Senate in the last week, while others await a Senate vote or confirmation by committee.

A comprehensive tracker of President Donald Trump’s entire slate of cabinet nominees can be found here.

Confirmed Cabinet Nominees

Voted Out of Committee, Awaiting Full Senate Vote

The following cabinet nominees have yet to be confirmed by the full Senate. They have been voted out of committee, a sign that they are likely to be confirmed by the Republican-majority Senate.

Click on each nominee’s name below to learn more about where they stand in the process and their background.

Pending Confirmation by Committee

The following nominees have not yet been voted out of their committee of jurisdiction.

CREFC will continue to closely follow the cabinet nominee confirmation process.

Contact James Montfort (jmontfort@crefc.org) with any questions.

 

Contact 

James Montfort
Manager, Government Relations
202.448.0857
jmontfort@crefc.org

The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2025 CRE Finance Council. All rights reserved.
First 100 Days: Trump Cabinet Nominee Update
February 11, 2025
President Donald Trump’s cabinet nominees are in various stages of the confirmation process with nine officials confirmed by the Senate in the last week, while others await a Senate vote or confirmation by committee.

News

Fed Chairman Powell to Testify to House Financial Services and Senate Banking Committees

February 11, 2025

The Senate Committee on Banking and the House Financial Services Committee will hear testimony this week from Federal Reserve Chair Jerome Powell.

Why it matters: Powell testifies on a semiannual basis in front of both chambers of Congress. His testimony will be closely watched as he will be asked about various aspects of the U.S. economy and it’s outlook moving forward.

  • Members of both chambers are likely to question Powell on a variety of economic issues including interest rates, inflation, and the labor market. 
  • Commercial real estate issues could also come up, as they did in March 2024 when Powell testified in front of HFSC. For a detailed readout of how CRE was discussed during that hearing last year, please click here.

The dates and times of Chairman Powell’s testimony to both committees is included below.

Senate Committee on Banking

House Financial Services Committee

What they’re saying: Chair Powell last testified on the Hill in July 2024. His opening statement from those hearings is linked here.

Contact James Montfort (jmontfort@crefc.org) with any questions.

 

Contact 

James Montfort
Manager, Government Relations
202.448.0857
jmontfort@crefc.org
The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2025 CRE Finance Council. All rights reserved.
Fed Chairman Powell to Testify to House Financial Services and Senate Banking Committees
February 11, 2025
The Senate Committee on Banking and the House Financial Services Committee will hear testimony this week from Federal Reserve Chair Jerome Powell.

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