Realtors Spend Record $26 Million on Lobbying

(Bloomberg) -- The National Association of Realtors spent a group record of $26.4 million on lobbying in the third quarter of 2018 as it continued to put money into influencing state and local issues, as well as elections.

The trade group, which counts its local campaign expenditure in its lobbying spending, eclipsed its previous record of $23.8 million, set in the lead-up to the 2016 election.

"The increase in third quarter expenses is a result of the approaching 2018 midterms elections, as Realtors continue to support candidates based on positions and voting records that indicate support for home ownership and real estate investment," Elizabeth Mendenhall, the group’s president, said in a statement.

The expenditure likely makes the association the top lobbying spender of the period, although revisions to the data, which were due Monday, occur occasionally.

The group also spent heavily in 2017 amid a battle over a federal deduction for local taxes. Several high-tax states felt they lost out in the eventual compromise, which capped the deduction, and have been attempting workarounds.

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