The National Association of Realtors (NAR) reaffirmed today that while it supports reforming the federal tax code, it “vowed to vigorously oppose any changes to incentives for real estate” in the proposed changes announced by Trump administration this morning, the details of which will be deliberated by Congress going forward.

In a statement, NAR said the organization’s concerns “include eliminating most itemized deductions, particularly state and local property tax deductions, even if the mortgage interest deduction is retained and even if those cuts would be accompanied by an increase in the standard deduction.”

NAR also wants to make sure 1031 like-kind exchanges are preserved, because that tax deferral mechanism supports commercial property sales.

NAR will be looking closely at the outline once it’s released this week. Two NAR Facebook Live events that will discuss tax reform are scheduled for Thursday, Sept. 28. The first, at 1 p.m. Eastern, will look at the Big 6 plan, and the second, at 2 p.m. Eastern, will look at 1031 exchanges. Both can be watched by going to facebook.com/nardotrealtor at those scheduled times.