By A.D. Pruitt |The Wall Street Journal
A powerful congressional committee is examining the tax exemption that real-estate investment trusts have enjoyed for decades as part of its comprehensive review of the tax code.
The House Ways and Means Committee has been re-examining the tax code looking for ways to boost economic growth by closing some loopholes, simplifying the code and reducing the tax burden on the middle class.
The committee is looking at the REIT tax exemption along with all other tax rules.
“Like all other aspects of the code, it is reasonable to expect that REITs would be included in any top-to-bottom review of the code,” said a spokeswoman for the Ways and Means committee, whose chairman is Dave Camp, (R., Mich.). “The chairman has long made it clear that everything is on the table.”
