President Joe Biden submitted his proposed fiscal year 2024 federal budget to Congress on March 9. It contains numerous tax increases that repeatedly failed to clear the House of Representatives and Senate even when these chambers were controlled by Democrats. But the president’s budget submission makes sense if you acknowledge that its primary purpose is as a political messaging document, meant to provide a contrast between his administration and Republicans in advance of the 2024 presidential election.
Members from the five NAIOP chapters in Florida traveled to Tallahassee last week for a joint NAIOP-ICSC legislative advocacy Day at the State Capitol. The two-day event provided an important opportunity for attendees to meet with their state lawmakers and government officials and advance the interests of the commercial real estate industry.
Cities and counties are increasingly adopting local ordinances that are intended to spur the electrification of our transportation system in order to reduce greenhouse gas (GHG) emissions from fossil fuels. Local efforts to support the use of EVs by both the public and private sectors will require the development and expansion of a reliable and sustainable EV charging system.
In less than two weeks, NAIOP members and chapter local executives will be headed to Capitol Hill to meet with their elected representatives, senators and congressional staff. In so doing, they will be taking the opportunity to establish relationships with newly elected members of Congress; renew and deepen existing ties with incumbents; and talk to their elected officials about issues important to the commercial real estate industry.
The spectacle put on by the new Republican majority in the House of Representatives in trying to choose a speaker this week clearly shows that nothing will be a sure thing in this Congress. Of course, we will continue advocating for the interests of the commercial real estate industry no matter what the political terrain may be in Congress.
While the primary focus of the national media during the 2022 election may have been on a potential “red wave” for control of the U.S. Senate and House of Representatives, there were over 6,200 state legislative races in 46 states. The outcome of these state races has significant impacts on core policy issues of importance for commercial real estate, such as taxes, regulations and economic development.
