Real Estate Firms Push to Preserve Carried Interest Tax Break

The real estate industry is at the forefront of a lobbying blitz to sway Congress to preserve the carried interest tax break that President Donald Trump wants to abolish in a giant tax bill pending in Congress.

The real estate industry — representing affordable housing and construction jobs as economic anxiety mounts — presents a more sympathetic case to lawmakers than the other main beneficiaries of carried interest: private equity and venture capital.

“When you have a development that a member of Congress can see or can imagine in their district, that resonates,” said Greg Brown of the National Apartment ...