Tax plan may provide boost

Despite the austerity mood in Washington, President Obama's proposed budget would provide tax relief to some foreign investors, a move the US real estate industry has been seeking for years

Despite the austerity mood in Washington, President Obama's proposed budget would provide tax relief to some foreign investors, a move the US real estate industry has been seeking for years.

As part of a larger push to spur private investment in US infrastructure, Obama has proposed changes to a 1980s tax policy called the Foreign Investment in Real Property Tax Act, or Firpta, that would exempt foreign pension funds from paying taxes on gains from real estate sales.

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Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is ReachedExternal link

Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is Reached