As Congress considers tax reforms, it is important that Congress not repeal Section 1031 Like-Kind exchanges that allow real estate investors to defer capital gains tax and income tax when they exchange one business or investment property and replace it with a qualifying “like-kind” property.

Repealing the like-kind exchange rules would negatively impact small business and slow economic growth, according to a new Ernst & Young Economic study put out by the Section 1031 Like-Kind Exchange Coalition.

Illinois REALTOR® Dan Wagner, vice president of government relations for the The Inland Real Group of Companies, was among the speakers at the coalition’s roll-out event of the study this week.

Daniel Goodwin, chairman and CEO of The Inland Real Estate Group of Companies, also penned an op-ed piece on the issue,”Why pro-growth tax reform must preserve like-kind exchanges,” for The Hill publication in February.

In other industry headlines:

RE/MAX of Northern Illinois offices honored for fundraising efforts to aid Lurie Children’s Hospital in Chicago – The RE/MAX offices raised $150,000 in 2014 for Lurie Children’s Hospital and Children’s Miracle Network Hospitals. Since 1992, RE/MAX Northern Illinois offices and brokers have raised nearly $2.4 million for the hospital.

RealtyTrac: Foreclosures will soon return to pre-crisis level – HousingWire

Billionaire Says Real Estate is Best Investment Possible – KCM Blog