In 1969, Astronaut Neil Armstrong became the first human to set foot on the Moon, Woodstock attracted more than 350,000 rock and roll fans, and the ARPANET, the predecessor to the Internet, transmitted its first communication. It was also the year the REALTORS® Political Action Committee, or RPAC as it is more widely known, was launched. The world has changed so much since then, and real estate has evolved with it.
For 50 years, from 1969 to 2019, REALTORS® have invested in RPAC as a way to shape and grow the real estate market where two-thirds of American families realize the dream of homeownership. REALTORS® join RPAC to amplify our voices, so they are heard by lawmakers whose decisions affect our industry.
We raise money through RPAC to support candidates who understand the industry in every state and on Capitol Hill. Their support has led to a long string of successes such as improving access to FHA loans so more Americans can by their own homes in 1969, helping establish the secondary mortgage market in 1994, reducing capital gains taxes making real estate a better investment in 1997, and creating the first-time home buyer tax credit in 2009.
From 2001 to 2009, we fought and won an eight-year battle to keep banks from becoming real estate brokers; a victory that kept real estate professionals at the center of the transaction while protecting consumers as the economy headed into the downturn. Since 1993, time and time again we have been on the front lines defending the mortgage interest deduction, access to credit, and the 30-year mortgage. On issue after issue, we advance the REALTOR® point of view, and together we have built a strong foundation for the future.
RPAC is the number one industry PAC in America with over 450,000 members having raised $36 million. According to RPAC, 35% of REALTORS® invest in RPAC to help create and protect property and homeownership rights for Americans. REALTORS® own that distinction because of our passion: a passion for our profession, our clients, and our communities.
REALTORS® are the Voice for Real Estate.