The
United States Senate has adjourned marking the formal end of the 113th
Congress. Congress enacted a series of tax extensions including the "Mortgage
Forgiveness Tax Relief Act", which is now headed to the President’s desk for
signature into law. The
United States Senate failed to renew the Terrorism Risk Insurance Act (TRIA).
This alarming failure to act before adjournment could stall commercial
real estate development around the country.
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