The One Big Beautiful Bill and What It Means for the Real Estate Industry

On this episode of "Real Estate Law Unlocked," Deputy Real Estate Section leader Vivian de las Cuevas-Diaz sits down with Partners Joel Roberson and Andrew Siracuse to break down what the new year could have in store following passage of the landmark One Big Beautiful Bill Act in 2025. The conversation focuses on the often-overlooked implementation phase, in which executive agencies such as the U.S. Department of the Treasury fill in critical details through guidance and regulations. Drawing on deep Capitol Hill and lobbying experience, Mr. Siracuse and Mr. Roberson explain how stakeholders, including real estate owners, developers and hospitality clients, can effectively engage with the Treasury Department, White House and U.S. Congress to ensure the final rules align with legislative intent and business priorities. They also preview what to watch in 2026, including must-pass legislation and potential bipartisan vehicles and highlight key real estate-related provisions such as new bonus depreciation incentives, permanent opportunity zones and expanded low-income housing tax credits (LIHTC) and New Markets Tax Credits (NMTC), while warning that another reconciliation bill could revive revenue raisers like changes to 1031 exchanges, making early and strategic advocacy essential.