The National Association of Realtors (NAR) noted improvements made to the tax reform bill approved by Congress last night, but outlined many concerns with the bill headed for the president’s desk as well.

Among the Realtor group’s concerns will the bill are:

• The reduction of the mortgage interest tax deduction cap was lowered from $1 million to $750,000.
• The final bill provides a tax deduction only if a loss is attributable to a presidentially-declared disaster.
• The final bill repeals the deduction for personal exemptions.
• The final bill repeals moving expense deduction and exclusion, except for members of the Armed Forces.