Industry experts call on public to take action against proposal seeking to severely restrict provision and its benefits to the U.S. economy

WOODLAND HILLS, CA, UNITED STATES, October 8, 2024 /EINPresswire.com/ -- Peak 1031 Exchange (peakexchange.com) is calling on businesses, investors, and individuals nationwide to take immediate action in response to the Democratic Party's newly adopted 2024 platform that proposes the repeal of Section 1031 like-kind exchanges. This long-standing provision is critical to fostering economic growth, job creation, and investment in communities across the country.

Section 1031 allows for the deferral of capital gains taxes on real estate and other business assets when reinvested into similar properties. The proposed repeal threatens to upend real estate markets and hinder business investment in vital commercial and residential projects, ultimately slowing economic growth, recovery, and progress.

"Section 1031 plays a pivotal role in stimulating investment in local economies and communities," said Kevin M. Levine, Executive Vice President & Partner of Peak 1031 Exchange. "Removing this provision could significantly decrease transactional activity and limit the ability for small businesses and investors to reinvest in new opportunities. We must act now to ensure its preservation."

Peak 1031 Exchange is urging all individuals and businesses to contact their members of Congress and emphasize the economic importance of like-kind exchanges. The Federation of Exchange Accommodators (FEA), an industry group, has provided a convenient platform for taking action.

Through the FEA's "1031 Builds America" website, individuals and businesses can educate themselves on the many benefits 1031 exchanges provide, as well as easily voice their concerns to Congress through the website's easy-to-use forms.

Take Action Now!

Visit the FEA's "1031 Builds America" website now to let Congress know why preserving Section 1031 is essential for America's continued economic growth and stability.

For more information or to get involved, please contact info@peakexchange.com or call us at (866) 357-1031.

Kevin M. Levine
Peak 1031 Exchange
+1 866-357-1031
info@peakexchange.com
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