ALTA Celebrates House Approval of Key Tax Legislation Supporting Small Businesses

On May 22, 2025, the American Land Title Association (ALTA) expressed its satisfaction following the U.S. House of Representatives' approval of the One Big Beautiful Bill tax package. Diane Tomb, CEO of ALTA, released a statement commending this important step towards recognizing the needs of small businesses across America.

In her statement, Tomb highlighted how this legislation directly benefits the thousands of title and settlement companies represented by ALTA. One of the most significant aspects of this tax package is the expanded Section 199A deduction. Tomb noted, "This expanded deduction is a welcome step that supports the long-term health of our small business members and the communities they serve." This highlights the vital role that tax reforms can play in strengthening small businesses, ensuring their growth and sustainability over time.

Moreover, ALTA is particularly pleased to see the preservation of Section 1031 like-kind exchanges within the legislation. Tomb explained, "These exchanges play a vital role in fueling real estate investment, promoting property improvements, and driving local economic growth." By maintaining this provision, the government acknowledges the importance of real estate investments in creating thriving communities and supporting the overall economy.

The legislation also includes provisions that bolster homeownership, including regulations pertaining to mortgage interest and capital gains exclusions. Tomb emphasized the importance of this support, stating, "These provisions help to provide certainty for buyers, sellers, and lenders alike, which ultimately strengthens the entire housing ecosystem." Enhanced regulations for mortgage interest and other incentives can lead to a more stable housing market, enabling Americans to make informed decisions about buying and selling homes.

In light of the House's approval, ALTA is urging the Senate to build on this momentum and safeguard the real estate and housing incentives that facilitate wealth-building for Americans. Tomb remarked, "These incentives are crucial for promoting generational stability and driving our economy forward." The call to action reflects ALTA's commitment to ensuring that small businesses remain a top priority during these legislative discussions.

ALTA's Mission and Background

Founded in 1907, the American Land Title Association is a national trade association that represents over 6,000 title insurance companies, title agents, abstracters, title searchers, and real estate attorneys. ALTA's mission is to provide a forum for its members, ensuring they are equipped with the knowledge and tools necessary to navigate the complexities of the title and settlement industry effectively.

As small businesses continue to form the backbone of the American economy, ALTA remains dedicated to advocating for policies that enable their growth and sustainability. The passage of this tax legislation is just one example of how collaborative efforts between government and industry leaders can lead to positive outcomes for small businesses and the communities they serve.

In conclusion, the ALTA's appreciation for the House's actions demonstrates a collective acknowledgment of the challenges faced by small businesses. With anticipation, ALTA looks to the Senate to further support these initiatives that can significantly uplift the housing market and foster economic prosperity throughout the nation.