Previously, we began looking briefly at some of the changes the election of Donald Trump is likely to bring. As we noted, Donald Trump has published an agenda for his first 100 days in office, and this gives a sense of what he plans to do upon entering office. In addition to the changes mentioned last time, there are also going to be changes coming for various industries.
For healthcare, of course, Trump has stated that he plans to repeal and replace the Affordable Care Act, and to bring about other changes in the health care industry. In terms of the energy industry, he has promised to do away with restrictions on the production of shale oil, natural gas, and clean coal, which will have a large impact on that industry.
Trump’s desire to renegotiate NAFTA and the Trans-Pacific Partnership, and to focus on foreign trade abuses, are all bound to impact businesses as well, including those in the retail industry, as will his stated plans to work with Congress to pass legislation discouraging companies from relocating their manufacturing operations to other countries to achieve tax savings.
Although it isn’t clear yet exactly how any industry will be affected, many in the real estate industry are hopeful that positive changes are coming based on Trump’s stated desire to increase the rate of homeownership. A number of possibilities are being pondered, including reduced tax rates and improvements to infrastructure. Reduced regulation of the housing industry is another possibility, which would impact home builders and developers, among others. Exactly how his immigration and trade policies will negatively impact any improvements in the real estate sector remains to be seen, though some say certain real estate markets could be negatively impacted more than others.
Needless to say, those who work in or interact with the real estate industry in the coming months and years will need to work closely with an experienced attorney to navigate any changes that are coming. Our firm provides solid legal guidance and counsel to our clients, and ensures that their rights are protected and that their interests zealously advocated.