On June 13, International Union of Painters and Allied Trades General President Ken Rigmaiden addressed the Real Estate Roundtable in Washington, DC. The group consisted of over 200 of the nation’s public and private real estate owners, lenders and managers, as well as leaders of major real estate trade associations. General President Rigmaiden was one of the featured speakers on a panel to discuss reforming the Foreign Investment in Real Property Tax Act of 1980. The proposed reform to the act would reduce tax barriers to foreign investment in U.S. real estate and thus spur job growth in the construction industry as more funds would be available for development.
“There is little stronger in Washington, DC than a united front of labor, management and investors proposing a realistic and well thought out solution to a mutual problem,” said Rigmaiden. “It is with partnerships such as the one between the Building Trades and the Business Round Table, and like the one the IUPAT is building with the Real Estate Roundtable, that we can break the gridlock on Capitol Hill.”