Seniors Housing Business

ASHA 2018

Seniors Housing Business is the magazine that helps you navigate the evolution of the seniors housing industry.

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Page 59 of 80

increased funding for Alzheimer's research. Too many of our resi- dents — an estimated 40 percent — suffer from this disease and other dementia-related diseases, financially crippling them, not to mention the toll it is taking on the nation's healthcare system. So there continues to be much work to do, and the need to engage in the political and policymaking process has never been more important for those in the seniors housing industry. I think we can expect much attention in the coming years to be focused on the issues associated with aging. We know there will be an increased need for senior living and other long-term care services, and the resources available to meet those needs will be constrained. We know people haven't saved enough for retirement, and we know there are shortages in the workforce serving our residents. ASHA's policy committee is look- ing very carefully at these issues and how best to position the indus- try going forward. But before we look to these future challenges, I'd like to share some of our recent legislative achievements, specifically some of the significant tax policy changes that ASHA supported in the Tax Cuts and Jobs Act of 2017. Tax reform Touted as one of the most significant achievements of this Congress and the Trump admin- istration was the enactment of the Tax Cuts and Jobs Act. While ASHA worked in coalition with our real estate partners to advance many of the real estate provisions of the act, there were two provi- sions unique to seniors housing in which we were instrumental in securing favorable outcomes. Both are noteworthy not only because of the outcome, but also because of the grassroots advocacy efforts of ASHA members, residents and staff. This made all the difference. Medical expense deduction ASHA laid the groundwork for this successful outcome several years ago. Our commissioned study, titled "The Importance of the Medical Expense Deduction for the Oldest and Sickest Amer- icans," authored by a 22-year veteran of the Congressional Joint Committee on Taxation (JCT), assessed the impact on seniors if the tax deduction was reduced. We shared this very credible study broadly on Capitol Hill and advocated for legislation to address the needed tax fix. We were pleased when Senator Rob Port- AS H A 50 2018 2018 ASHA 50 59

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