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[Colorado]
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Records of the Office of the Chief of Staff (Reagan Administration)
James Baker's Unanswered Correspondence Files
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1985-12-31
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Ronald Reagan Presidential Library
Digital Library Collections
This is a PDF of a folder from our textual collections.
Collection: Baker, James A.: Files
Folder Title: [Colorado]
Box: 12
To see more digitized collections
visit: https://reaganlibrary.gov/archives/digital-library
To see all Ronald Reagan Presidential Library inventories visit:
https://reaganlibrary.gov/document-collection
Contact a reference archivist at: [email protected]
Citation Guidelines: https://reaganlibrary.gov/citing
National Archives Catalogue: https://catalog.archives.gov/
39 Marland Road
Colorado Springs, CO 80906
December 21, 1984
President Ronald Reagan
1600 Pennsylvania Avenue
Washington, D.C. 20500
Dear President Reagan:
I view with alarm Secretary Regan's proposed tax bill as well as the one
passed in 1984. It seems that our Executive office and Congress deliberately
led the American people down the "primrose path" with the 1981 tax law, encour-
aging them to invest in real estate, depreciate property over 15 years with ACRS
depreciation, and numerous other benefits. That law seemed a good one.
Each year since 1981, you and Congress have progressively taken away the
benefits. Now in the 1984 law Americans are actually being financially penalized
because they made investment moves based on the encouragement provided by our
government in the 1981 tax law. Surely we deserve better treatment from our
elected officials. A little consistency is in order, leaving things alone for
awhile and giving them time to work.
I am reminded of the monkey people in Rudyard Kipling's Jungle Book - the
Bandar Log as they were called by the other jungle animals. Mowgli feared for
his life when captured because the Bandar Log were childishly inconsistent and
unpredictable. I fear that our Congress is populated by the Bandar Log. This
very inconsistency and unpredictability destroys confidence in government and
inhibits business expansion due to fear of "another change in the rules". It
is safer not to venture forth. If you want to get this country moving ahead
stop changing the tax laws ("the rules") each year!
The Treasury's proposal to treat large limited partnerships (over 35 people)
as corporations will preclude small investors from being able to buy into invest-
ment opportunities. Not good.
The interest indexing and capital gains indexing would greatly discourage
real estate investment and construction of needed new housing. Not good.
There should be no penalty for using the ACRS depreciation approved in the
1981 law, yet the 1984 law severely penalizes those who selected it. It appears
Congress deliberately set up the public by enticing their use of this depreciation
method; then zapped them with ordinary income on recovery in order to collect
more taxes. Pure deception! That's just plain "dirty pool". How can we play
by the rules if they change each year? Not good.
The proposed rules if implemented will prove a disincentive to capital forma-
tion, will severely damage the construction and development industries resulting
in loss of countless jobs, create a severe housing shortage and raise the rents
for millions of people. It is in contradiction to your program for this nation's
health. Not good.
President Ronald Reagan
December 21, 1984
Page Two
Lastly, while I heartily agree with helping El Salvador, the anti-Sandistas
in Nicaragua and the numerous hot spots around the world, there is plenty of
"fat" left in the military as well as other areas of government and you should
make them trim down too. I am a retired USAF officer and West Pointer who got
out at 21 years; the government was foolish to let me go at such a young age
though I have repaid everything I received many times. I'd have no objection
to my stipend being cut if it would help. Others, however, are not so fortunate.
The only way to achieve any meaningful and lasting tax reduction is to reduce
the size, and cost of government. This means also attacking the sensitive issue
of social security and reducing the size of agencies such as HUD, Health, Educa-
tion, FTC and especially IRS.
Please consider these views when determining final tax policy. I really
cannot see where voting for any one who raises my taxes is in my best interests
or those of America.
Sincerely,
Ken Barber
Kenneth H. Barber
Copies to: Senator William Armstrong
Senator Gary Hart
Edwin Meese III
James A. Baker III
Representative Ken Kramer
Representative Patricia Schroeder
Representative Timothy E. Wirth
Representative Ray Kogovsek
Representative Hank Brown
Representative Dan L. Schaefer
December 26, 1984
James A. Baker III, Chief of Staff and Assistant to the President
The White House
1600 Pennsylvania Avenue, N.W.
Washington, D.C. 20500
Re: Treasury Department Tax Reform Proposals
Dear Mr. Baker,
We urge you to immediately take a strong position against the
tax reform proposals recently issued by the U.S. Department of
Treasury. The uncertainty of future legislation is causing havoc
in the investment community. This uncertainty is likely to result
in an acceleration of the recessionary pressures already building
in the present economic climate.
We believe that if enacted, certain provisions contained in
the Treasury proposal would create a disincentive for capital
formation, thus greatly damaging the economy of the United States.
This in turn will cripple the construction and development
industries resulting in the loss of millions of jobs, and
ultimately creating a severe housing shortage and higher rents for
millions of tenants across the United States. The proposal is
economically damaging and ineffectual and conflicts with the
underlying philosophy of the Reagan administration and re-election.
We, therefore, urge you, in the strongest terms, to publicly oppose
the recent Treasury proposal.
Very truly yours,
Daight
Dwight E. Kelley
President
DEK/mal
Eagle Group Corporation
Real Estate Development
(303) 599-4605
5350 N. Academy Boulevard
Colorado Springs, Colorado 80907
Langford DeLay & Associates
December 26, 1984
James A. Baker III, Chief of Staff and Assistant to the President
The White House
1600 Pennsylvania Avenue, N.W.
Washington, D.C. 20500
Re: Treasury Department Tax Reform Proposals
Dear Mr. Baker,
We urge you to immediately take a strong position against the
tax reform proposals recently issued by the U.S. Department of
Treasury. The uncertainty of future legislation is causing havoc
in the investment community. This uncertainty is likely to result
in an acceleration of the recessionary pressures already building
in the present economic climate.
We believe that if enacted, certain provisions contained in
the Treasury proposal would create a disincentive for capital
formation, thus greatly damaging the economy of the United States.
This in turn will cripple the construction and development
industries resulting in the loss of millions of jobs, and
ultimately creating a severe housing shortage and higher rents for
millions of tenants across the United States. The proposal is
economically damaging and ineffectual and conflicts with the
underlying philosophy of the Reagan administration and re-election.
We, therefore, urge you, in the strongest terms, to publicly oppose
the recent Treasury proposal.
Very truly yours,
Ronn W. Langford
President
RWL/mal
5360 North Academy Boulevard/Colorado Springs, Colorado 80907/(303)599-4646
Langford DeLay & Associates
December 26, 1984
James A. Baker III, Chief of Staff and Assistant to the President
The White House
1600 Pennsylvania Avenue, N.W.
Washington, D.C. 20500
Re: Treasury Department Tax Reform Proposals
Dear Mr. Baker,
We urge you to immediately take a strong position against the tax
reform proposals recently issued by the U.S. Department of
Treasury. The uncertainty of future legislation is causing havoc
in the investment community. This uncertainty is likely to result
in an acceleration of the recessionary pressures already building
in the present economic climate.
We believe that if enacted, certain provisions contained in the
Treasury proposal would create a disincentive for capital
formation, thus greatly damaging the economy of the United States.
This in turn will cripple the construction and development
industries resulting in the loss of millions of jobs, and
ultimately creating a severe housing shortage and higher rents for
millions of tenants across the United States. The proposal is
economically damaging and ineffectual and conflicts with the
underlying philosophy of the Reagan administration and re-election.
We, therefore, urge you, in the strongest terms, to publicly oppose
the recent Treasury proposal.
Very truly yours,
Daniel L. Wecks
President
Langford DeLay Real Estate Company, Inc.
DLW/mal
5360 North Academy Boulevard/Colorado Springs, Colorado 80907/(303)599-9000
Langford DeLay
Leasing & Management Company
December 26, 1984
James A. Baker III, Chief of Staff and Assistant to the President
The White House
1600 Pennsylvania Avenue, N.W.
Washington, D.C. 20500
Re: Treasury Department Tax Reform Proposals
Dear Mr. Baker,
We urge you to immediately take a strong position against the
tax reform proposals recently issued by the U.S. Department of
Treasury. The uncertainty of future legislation is causing havoc
in the investment community. This uncertainty is likely to result
in an acceleration of the recessionary pressures already building
in the present economic climate.
We believe that if enacted, certain provisions contained in
the Treasury proposal would create a disincentive for capital
formation, thus greatly damaging the economy of the United States.
This in turn will cripple the construction and development
industries resulting in the loss of millions of jobs, and
ultimately creating a severe housing shortage and higher rents for
millions of tenants across the United States. The proposal is
economically damaging and ineffectual and conflicts with the
underlying philosophy of the Reagan administration and re-election.
We, therefore, urge you, in the strongest terms, to publicly oppose
the recent Treasury proposal.
Very truly yours,
Cheryl Langford
CL/ml
5360 North Academy Boulevard/Colorado Springs, Colorado 80907/(303)599-4600
Langford DeLay Real Estate Securities, Inc.
December 26, 1984
James A. Baker III, Chief of Staff and Assistant to the President
The White House
1600 Pennsylvania Avenue, N.W.
Washington, D.C. 20500
Re: Treasury Department Tax Reform Proposals
Dear Mr. Baker,
We urge you to immediately take a strong position against the
tax reform proposals recently issued by the U.S. Department of
Treasury. The uncertainty of future legislation is causing havoc
in the investment community. This uncertainty is likely to result
in an acceleration of the recessionary pressures already building
in the present economic climate.
We believe that if enacted, certain provisions contained in
the Treasury proposal would create a disincentive for capital
formation, thus greatly damaging the economy of the United States.
This in turn will cripple the construction and development
industries resulting in the loss of millions of jobs, and
ultimately creating a severe housing shortage and higher rents for
millions of tenants across the United States. The proposal is
economically damaging and ineffectual and conflicts with the
underlying philosophy of the Reagan administration and re-election.
We, therefore, urge you, in the strongest terms, to publicly oppose
the recent Treasury proposal.
Very truly yours,
Ronald R. Richter
Secretary-Treasurer
RRR/mal
Member National Association of Security Dealers
5360 North Academy Boulevard/Colorado Springs, Colorado 80907/(303) 599-4646
Ld L/D CONSTRUCTION CO.
5360 North Academy Blvd.
Colorado Springs, CO 80907
(303) 599-3801
December 26, 1984
James A. Baker III, Chief of Staff and Assistant to the President
The White House
1600 Pennsylvania Avenue, N.W.
Washington, D.C. 20500
Re: Treasury Department Tax Reform Proposals
Dear Mr. Baker,
We urge you to immediately take a strong position against the
tax reform proposals recently issued by the U.S. Department of
Treasury. The uncertainty of future legislation is causing havoc
in the investment community. This uncertainty is likely to result
in an acceleration of the recessionary pressures already building
in the present economic climate.
We believe that if enacted, certain provisions contained in
the Treasury proposal would create a disincentive for capital
formation, thus greatly damaging the economy of the United States.
This in turn will cripple the construction and development
industries resulting in the loss of millions of jobs, and
ultimately creating a severe housing shortage and higher rents for
millions of tenants across the United States. The proposal is
economically damaging and ineffectual and conflicts with the
underlying philosophy of the Reagan administration and re-election.
We, therefore, urge you, in the strongest terms, to publicly oppose
the recent Treasury proposal.
Very truly yours,
Hugh J. Wallnutt
President
HJW/mal
A Division of Langford DeLay & Associates
Properties of Colorado
ties of Colorado
Brokerage
Investments
Professional Management
STEVEN C. WELTY
estments
Professional Management
Broker
102 S. Tejon, Suite #1050
(303) 591-9200
Colorado Springs, CO 80903
December 14, 1984
James A. Baker, III
Chief of Staff and
Assistant to the President
The White House
1600 Pennsylvania Avenue, NW
Washington, D.C. 20500
Dear Mr. Baker:
We urge you to immediately take a strong position against the
tax reform proposals recently issued by the U.S. Department of
Treasury. The uncertainty of future legislation is causing havoc
in the investment community. This uncertainty is likely to result
in an acceleration of the recessionary pressures already building in
the present economic climate.
We believe that if enacted, certain provisions contained in the
Treasury proposal would create a disincentive for capital formation,
thus greatly damaging the economy of the United States. This in
turn will cripple the construction and development industries
resulting in the loss of millions of jobs, and ultimately creating
a severe housing shortage and higher rents for millions of tenants
across the United States. The proposal is economically damaging and
ineffectual and conflicts with the underlying philosophy of the
Reagan administration and re-election. I, therefore, urge you, in
the strongest terms, to publicly oppose the recent Treasury proposal.
Sincerely,
Steven C. Welty
SCW/se
102 S. Tejon, Suite #1050
Colorado Springs, CO 80903
(303) 591-9200
Westmark
Custom Homes
December 26, 1984
Congressman Ken Kramer
223 Cannon Building
Washington, D.C. 20515
Re: Treasury Department Tax Reform Proposals
Dear Congressman Kramer,
We urge you to immediately take a strong position against the
tax reform proposals recently issued by the U.S. Department of
Treasury. The uncertainty of future legislation is causing havoc
in the investment community. This uncertainty is likely to result
in an acceleration of the recessionary pressures already building
in the present economic climate.
We believe that if enacted, certain provisions contained in
the Treasury proposal would create a disincentive for capital
formation, thus greatly damaging the economy of the United States.
This in turn will cripple the construction and development
industries resulting in the loss of millions of jobs, and
ultimately creating a severe housing shortage and higher rents for
millions of tenants across the United States. The proposal is
economically damaging and ineffectual and conflicts with the
underlying philosophy of the Reagan administration and re-election.
We, therefore, urge you, in the strongest terms, to publicly oppose
the recent Treasury proposal.
Very truly yours,
San James A. Chester aChts
Vice President
JAC/mal
Westmark
Enterprises, Inc.
December 26, 1984
James A. Baker III, Chief of Staff and Assistant to the President
The White House
1600 Pennsylvania Avenue, N.W.
Washington, D.C. 20500
Re: Treasury Department Tax Reform Proposals
Dear Mr. Baker,
We urge you to immediately take a strong position against the
tax reform proposals recently issued by the U.S. Department of
Treasury. The uncertainty of future legislation is causing havoc
in the investment community. This uncertainty is likely to result
in an acceleration of the recessionary pressures already building
in the present economic climate.
We believe that if enacted, certain provisions contained in
the Treasury proposal would create a disincentive for capital
formation, thus greatly damaging the economy of the United States.
This in turn will cripple the construction and development
industries resulting in the loss of millions of jobs, and
ultimately creating a severe housing shortage and higher rents for
millions of tenants across the United States. The proposal is
economically damaging and ineffectual and conflicts with the
underlying philosophy of the Reagan administration and re-election.
We, therefore, urge you, in the strongest terms, to publicly oppose
the recent Treasury proposal.
Very truly yours,
Hugh J. Wallnutt
President
HJW/mal
5360 North Academy Boulevard Colorado Springs, Colorado 80907 (303) 599-0990
Westmark
Homes
5360 North Academy Boulevard Colorado Springs, Colorado 80907
(303) 599-0990
December 26, 1984
James A. Baker III, Chief of Staff and Assistant to the President
The White House
1600 Pennsylvania Avenue, N.W.
Washington, D.C. 20500
Re: Treasury Department Tax Reform Proposals
Dear Mr. Baker,
We urge you to immediately take a strong position against the
tax reform proposals recently issued by the U.S. Department of
Treasury. The uncertainty of future legislation is causing havoc
in the investment community. This uncertainty is likely to result
in an acceleration of the recessionary pressures already building
in the present economic climate.
We believe that if enacted, certain provisions contained in
the Treasury proposal would create a disincentive for capital
formation, thus greatly damaging the economy of the United States.
This in turn will cripple the construction and development
industries resulting in the loss of millions of jobs, and
ultimately creating a severe housing shortage and higher rents for
millions of tenants across the United States. The proposal is
economically damaging and ineffectual and conflicts with the
underlying philosophy of the Reagan administration and re-election.
We, therefore, urge you, in the strongest terms, to publicly oppose
the recent Treasury proposal.
Very truly yours,
Carl Bartab
Carl Barteck
Vice President
CB/ml
December 17, 1984
Mr. James A. Baker
Chief of Staff
1600 Pennsylvania Avenue NW
Washington, DC 20500
Dear Mr. Baker:
I urge you to oppose the recent tax reform proposals forwarded by the U.S. Department
of Treasury. While meaningful reform has long been needed, many portions of the
Treasury's proposal, if enacted, could destroy major segments of the investment industry.
Uncertainty about future tax legislation has already caused much havoc in the investment
community.
If certain provisions in the Treasury proposal are enacted, a strong disincentive to
capital formation would result. This could have devastating effects on the construction
and development industries. In particular, heavy manufacturing industries and housing
industries would be particularly hard hit by changes in depreciation; elimination of
investment tax credits and capital gains exclusions; and by adoption of interest indexing.
While perhaps unfortunate, the reality of nearly all investment decisions have for years
included comparisons involving tax consequences of alternative investments. To suddenly
penalize investors for making those decisions based, at least in part, on the reality of
tax law seems to be an overreaction. Gradual changes and curbs of obviously abusive
applications would seem to be more in order.
I hope that this proposal, which would have massive and possibly devasting effects on
the economy and growth of this country, will not gain your favor. Certainly tax reform
must be accomplished, but with a scalpel, not an ax.
Respectfully yours,
DAMAR Robert R. Fuller
1009 Grant Street
Denver, CO 80203
GORSUCH, KIRGIS, CAMPBELL, WALKER AND GROVER
ATTORNEYS AT LAW
SUITE 1100-1401 SEVENTEENTH STREET
P.O. BOX 17180
DENVER, COLORADO 80217
TELEPHONE (303) 534-1200
TELECOPIER (303) 298-0215
TELEX 450084
WILLIAM B. MATHEWS
December 14, 1984
James A. Baker III, Chief of Staff and Assistant to the President
The White House, 1600 Pennsylvania Avenue, N.W.
Washington, D.C. 20500
Re: Treasury Department Tax Reform Proposals
Dear Mr. Baker:
I am concerned about the tax reform proposals recently issued by the
U. S. Department of Treasury, and urge you immediately to take a strong
position against them. The uncertainty of future legislation is causing
havoc in the investment community, and is likely to result in an acceleration
of the recessionary pressures already building in the present economic climate.
I believe that, if enacted, certain provisions contained in the Treasury
proposal would create a disincentive for capital formation, thereby harming
our economy. The construction and development industries would be hurt,
resulting in loss of jobs, and ultimately causing shortages and rent increases.
Much of the proposal is economically damaging and ineffectual and conflicts
with the underlying philosophy of the Reagan administration.
I do support true tax simplification that does not reduce the incentive
to invest capital. The particular features of Treasury's proposal which I
find objectionable are the 35-limited Partner rule (providing that limited
partnerships with more than 35 limited partners would be taxed as corporations),
interest indexing (limiting deductibility of interest and providing for im-
puted interest rates), capital gains indexing and taxation at ordinary rates,
application of the at-risk rules to real estate, extention of real estate de-
preciation periods, and repeal of the investment tax credit. While it may
appear to many that these are loopholes, actually they provide for small inves-
tor participation in syndication, they fulfill a legitimate government purpose
of providing decent housing through private incentive, and they were established
initially after thoughtful consideration of all factors concerned. I, therefore,
urge you, in the strongest terms, to oppose publicly the recent Treasury pro-
posal, particularly as it relates to the aforementioned items.
Very truly yours,
Mintall
CC:
Rep. Schroeder
William B. Mathews
Sen. Armstrong
Sen. Hart
H. Bruce McClaren
WBM/slw
Emil J. Rothlisberger
6661 East Euclid Place
Englewood, Co. 80111
303/773-2582
December 10, 1984
James A. Baker III
Chief of Staff and Assistant
to the President
The White House
1600 Pennsylvania Avenue, N.W.
Washington, D.C. 20500
RE: Treasury Department Tax Reform Proposals
Dear Mr. Baker:
I urge you to immediately take a strong position against the
tax reform proposals recently issued by the U.S. Department
of Treasury. The uncertainty of future legislation is
causing havoc in the investment community. This uncertainty
is likely to result in an acceleration of the recessionary
pressures already building in the present economic climate.
I believe that if enacted, certain provisions contained in
the Treasury proposal would create a disincentive for capital
formation, thus greatly damaging the economy of the United
States. This in turn will cripple the construction and
development industries resulting in the loss of millions of
jobs, and ultimately creating a severe housing shortage and
higher rents for millions of tenants across the United States.
The proposal is economically damaging and ineffectual and
conflicts with the underlying philosophy of the Reagan
administration and re-election. I, therefore, urge you, in
the strongest terms, to publicly oppose the recent Treasury
proposal.
Very truly yours,
EJR:dch
JIM
SCAVO
REALTY,
220 EAST MULBERRY STREET
Inc
FORT COLLINS, COLORADO 80524, TELEPHONE (303) 482-0844
December 13, 1984
James A. Baker III, Chief of Staff and Assistant to the President
The White House, 1600 Pennsylvania Avenue, N.W.
Washington, D.C. 20500
Re: Treasury Department Tax Reform Proposals
Dear Mr. Baker:
I urge you to immediately take a strong position against the tax reform proposals
recently issued by the U.S. Department of Treasury. The uncertainty of future
legislation is causing havoc in the investment community. This uncertainty is
likely to result in an acceleration of the recessionary pressures already building
in the present economic climate.
I believe that if enacted, certain provisions contained in the Treasury proposal
would create a disincentive for capital formation, thus greatly damaging the
economy of the United States. This in turn will cripple the construction and
development industries resulting in the loss of millions of jobs, and ultimately
creating a severe housing shortage and higher rents for millions of tenants across
the United States. The proposal is economically damaging and ineffectual and
conflicts with the underlying philosophy of the Reagan administration and re-
election. I, therefore, urge you, in the strongest terms, to publicly oppose
the recent Treasury proposal.
Sincerely,
PETE CRABB
Pete Crabb
PC/cs
RESIDENTIAL/COMMERCIAL/LAND DEVELOPMENT
JIM
SCAVO
REALTY
220 EAST MULBERRY STREET
Inc
FORT COLLINS, COLORADO 80524, TELEPHONE (303) 482-0844
December 13, 1984
James A. Baker III, Chief of Staff and Assistant to the President
The White House, 1600 Pennsylvania Avenue, N.W.
Washington, D.C. 20500
Re: Treasury Department Tax Reform Proposals
Dear Mr. Baker:
I urge you to immediately take a strong position against the tax reform proposals
recently issued by the U.S. Department of Treasury. The uncertainty of future
legislation is causing havoc in the investment community. This uncertainty is
likely to result in an acceleration of the recessionary pressures already building
in the present economic climate.
I believe that if enacted, certain provisions contained in the Treasury proposal
would create a disincentive for capital formation, thus greatly damaging the
economy of the United States. This in turn will cripple the construction and
development industries resulting in the loss of millions of jobs, and ultimately
creating a severe housing shortage and higher rents for millions of tenants across
the United States. The proposal is economically damaging and ineffectual and
conflicts with the underlying philosophy of the Reagan administration and re-
election. I, therefore, urge you, in the strongest terms, to publicly oppose
the recent Treasury proposal.
Sincerely,
RJK/cs
RESIDENTIAL/COMMERCIAL/LAND DEVELOPMENT
JIM
SCAVO
REALTY,
220 EAST MULBERRY STREET
Inc
FORT COLLINS, COLORADO 80524, TELEPHONE (303) 482-0844
December 13, 1984
James A. Baker III, Chief of Staff and Assistant to the President
The White House, 1600 Pennsylvania Avenue, N.W.
Washington, D.C. 20500
Re: Treasury Department Tax Reform Proposals
Dear Mr. Baker:
I urge you to immediately take a strong position against the tax reform proposals
recently issued by the U.S. Department of Treasury. The uncertainty of future
legislation is causing havoc in the investment community. This uncertainty is
likely to result in an acceleration of the recessionary pressures already building
in the present economic climate.
I believe that if enacted, certain provisions contained in the Treasury proposal
would create a disincentive for capital formation, thus greatly damaging the
economy of the United States. This in turn will cripple the construction and
development industries resulting in the loss of millions of jobs, and ultimately
creating a severe housing shortage and higher rents for millions of tenants across
the United States. The proposal is economically damaging and ineffectual and
conflicts with the underlying philosophy of the Reagan administration and re-
election. I, therefore, urge you, in the strongest terms, to publicly oppose
the recent Treasury proposal.
Sincerely,
George Scavo
George A. Scavo
GAS/cs
RESIDENTIAL/COMMERCIAL/LAND DEVELOPMENT
JIM
SCAVO
REALTY
220 EAST MULBERRY STREET
Inc
FORT COLLINS, COLORADO 80524, TELEPHONE (303) 482-0844
December 13, 1984
James A. Baker III, Chief of Staff and Assistant to the President
The White House, 1600 Pennsylvania Avenue, N.W.
Washington, D.C. 20500
Re: Treasury Department Tax Reform Proposals
Dear Mr. Baker:
I urge you to immediately take a strong position against the tax reform proposals
recently issued by the U.S. Department of Treasury. The uncertainty of future
legislation is causing havoc in the investment community. This uncertainty is
likely to result in an acceleration of the recessionary pressures already building
in the present economic climate.
: believe that if enacted, certain provisions contained in the Treasury proposal
would create a disincentive for capital formation, thus greatly damaging the
economy of the United States. This in turn will cripple the construction and
development industries resulting in the loss of millions of jobs, and ultimately
creating a severe housing shortage and higher rents for millions of tenants across
the United States. The proposal is economically damaging and ineffectual and
conflicts with the underlying philosophy of the Reagan administration and re-
election. I, therefore, urge you, in the strongest terms, to publicly oppose
the recent Treasury proposal.
Sincerely,
JanisaScar
JAS/cs
RESIDENTIAL/COMMERCIAL/LAND DEVELOPMENT
WHEELER
Commercial &
REALTY
Investment
Division
Wheeler Realty Company, 1331 8th Avenue, Greeley, Colorado 80631 Telephone (303) 356-1331
December 18, 1984
James A. Baker III, Chief of Staff & Assistant to the President
The White House
1600 Pennsylvania Avenue, N.W.
Washington, D.C. 20500
RE: Treasury Department Tax Reform Proposals
Dear Mr. Baker:
We urge you to immediately take a strong position against the tax reform
proposals recently issued by the U.S. Department of Treasury. The uncertainty
of future legislation is causing havoc in the investment community. This
uncertainty is likely to result in an acceleration of the recessionary
pressures already building in the present economic climate.
This proposal may appear to somewhat lower the Federal tax for low to
moderate income households. However, it completely ignors the intent embodied
in the existing tax code to help provide decent and affordable housing for low
to moderate income households. In today's marketplace, fully 35 to 40% of the
total rental housing capital investment is equity which is compensated solely
through tax deferral and conversion with no current yield. Current rent will
only support a market competitive cash yield for 60 to 65% of the construction
cost (typical mortgage financing). If the pass through tax benefits are illu-
minated under the Treasury proposal, new rental construction will stop and
rents on existing rental housing will quickly adjust to a 50% increase, thereby
costing the average American renter about $2,000 per year. In essence. the
Treasury proposal is a government mandated rent increase.
We believe that if enacted, certain provisions contained in the Treasury
proposal would create a disincentive for capital formation, this greatly
damaging the economy of the United States. This in turn will cripple the
construction and development industries resulting in the loss of millions of
jobs, and ultimately creating a severe housing shortage and higher rents for
millions of tenants across the United States. The proposal is economically
RESORT SECURITIES AND INVESTMENTS, INC.
REAL ESTATE SYNDICATIONS - - DPP SECURITY BROKER DEALER - CERTIFIED INVESTMENT ADVISOR
December 10, 1984
James A. Baker III, Chief of Staff and Assistant to the President
The White House, 1600 Pennsylvania Avenue, N.W.
Washington, D.C. 20500
RE: Treasury Department Tax Reform Proposals
Dear Mr. Baker:
I urge you to immediately take a strong position against the tax reform
proposals recently issued by the U.S. Department of Treasury. The
uncertainty of future legislation is causing havoc in the investment
community. This uncertainty is likely to result in an acceleration
of the recessionary pressures already building in the present economic
climate.
I believe that if enacted, certain provisions contained in the Treasury
proposal would create a disincentive for capital formation, thus greatly
damaging the economy of the United States. This in turn will cripple
the construction and development industries resulting in the loss of
millions of jobs, and ultimately creating a severe housing shortage
and higher rents for millions of tenants across the United States.
The proposal is economically damaging and ineffectual and conflicts
with the underlying philosophy of the Reagan administration and
re-election. I, therefore, urge you, in the strongest terms, to publicly
oppose the recent Treasury proposal.
Very truly yours,
Stephen C. Miller
SM:ms
MEMBER NASD SIPC RESSI
SKI TIME SQUARE - BLDG. G - SUITE 308 - - 1870 MT. WERNER RD.
P.O. BOX 772788 STEAMBOAT SPRINGS, COLORADO 80477 PHONE: (303) 879-1020
ROMICK AND ASSOCIATES, INCORPORATED
Real Estate Division
December 10, 1984
James A. Baker III, Chief of Staff & Assistant to the President
The White House, 1600 Pennsylvania Ave., N.W.
Washington, D.C. 20500
RE: Treasury Department Tax Reform Propsals
Dear Mr. Baker:
I urge you to immediately take a strong position against the tax reform
proposals recently issued by the U.S. Department of Treasury. The
uncertainty of future legislation is causing havoc in the investment
community. This uncertainty is likely to result in an acceleration
of the recessionary pressures already building in the present economic
climate.
I believe that if enacted, certain provisions contained in the Treasury
proposal would create a disincentive for capital formation, thus greatly
damaging the economy of the United States. This in turn will cripple
the construction and development industries resulting in the loss
of millions of jobs, and ultimately creating a severe hosuing shortage
and higher rents for millions of tenants across the United States.
The proposal is economically damaging and ineffectual and conflicts
with the underlying philosophy of the Reagan administration and re-
election. I, therefore, urge you in the strongest terms, to publicly
oppose the recent Treasury proposal.
Very Peagy , Manett truly yours,
Peggy Garrett
Sales Associate
PG:ms
928 Lincoln Avenue
P.O. Box 770247
Steamboat Springs, CO 80477
(303) 879-3618
ROMICK AND ASSOCIATES, INCORPORATED
Real Estate Division
December 10, 1984
James A. Baker III, Chief of Staff & Assistant to the President
The White House, 1600 Pennsylvania Ave., N.W.
Washington, D.C. 20500
RE: Treasury Department Tax Reform Propsals
Dear Mr. Baker:
I urge you to immediately take a strong position against the tax reform
proposals recently issued by the U.S. Department of Treasury. The
uncertainty of future legislation is causing havoc in the investment
community. This uncertainty is likely to result in an acceleration
of the recessionary pressures already building in the present economic
climate.
I believe that if enacted, certain provisions contained in the Treasury
proposal would create a disincentive for capital formation, thus greatly
damaging the economy of the United States. This in turn will cripple
the construction and development industries resulting in the loss
of millions of jobs, and ultimately creating a severe hosuing shortage
and higher rents for millions of tenants across the United States.
The proposal is economically damaging and ineffectual and conflicts
with the underlying philosophy of the Reagan administration and re-
election. I, therefore, urge you in the strongest terms, to publicly
oppose the recent Treasury proposal.
Marily Laisle Very truly yours,
Marilyn Laisle
Sales Associate
ML:ms
928 Lincoln Avenue
P.O. Box 770247
Steamboat Springs, CO 80477
(303) 879-3618
ROMICK AND ASSOCIATES, INCORPORATED
Real Estate Division
December 10, 1984
James A. Baker III, Chief of Staff and Assistant to the President
The White House, 1600 Pennsylvania Ave., N.W.
Washington, D.C. 20500
RE: Treasury Department Tax Reform Proposals
Dear Mr. Baker:
I urge you to immediately take a strong position against the tax reform
proposals recently issued by the U.S. Department of Treasury. The
uncertainty of future legislation is causing havoc in the investment
community. This uncertainty is likely to result in an acceleration
of the recessionary pressures already building in the present economic
climate.
I believe that if enacted, certain provisions contained in the Treasury
proposal would create a disincentive for capital formation, thus greatly
damaging the economy of the United States. This in turn will cripple
the construction and development industries resulting in the loss of
millions of jobs, and ultimately creating a severe housing shortage
and higher rents for millions of tenants across the United States.
The proposal is economically damaging and ineffectual and conflicts
with the underlying philosophy of the Reagan administration and
re-election. I, therefore, urge you, in the strongest terms, to publicly
oppose the recent Treasury proposal.
Very truly yours,
Brent tomick
Brent Romick
President/Romick & Associates, Inc.
BR:ms
928 Lincoln Avenue
P.O. Box 770247
Steamboat Springs, CO 80477
(303) 879-3618
ROMICK AND ASSOCIATES, INCORPORATED
Real Estate Division
December 10, 1984
James A. Baker III, Chief of Staff & Assistant to the President
The White House, 1600 Pennsylvania Ave., NJ W.
Washington, D.C. 20500
RE: Treasury Department Tax Reform Proposals
Dear Mr. Baker:
I urge you to immediately take a strong position against the tax reform
proposals recently issued by the U.S. Department of Treasury. The
uncertainty of future legislation is causing havoc in the investment
community. This uncertainty is likely to result in an acceleration
of the recessionary pressures already building in the present economic
climate.
I believe that if enacted, certain provisions contained in the Treasury
proposal would create a disincentive for capital formation, thus greatly
damaging the economy of the United States. This in turn will cripple
the construction and development industries resulting in the loss of
millions of jobs, and ultimately creating a severe housing shortage
and higher rents for millions of tenants across the United States.
The proposal is economically damaging and ineffectual and conflicts
with the underlying philosophy of the Reagan administration and
re-election. I, therefore, urge you, in the strongest terms, to publicly
oppose the recent Treasury proposal.
Very truly yours,
John somich
Robin Romick
Broker
RR:ms
928 Lincoln Avenue
P.O. Box 770247
Steamboat Springs, CO 80477
(303) 879-3618