The global mobility landscape is continuously evolving, often bringing significant changes that directly impact businesses, mobile employees, and the broader mobility industry. In our recent webinar, we explored key legislative, economic, and policy developments that could shape mobility programs in the months ahead. With new regulations taking effect and additional proposals on the horizon, staying informed is crucial for strategic planning.
Watch the full recording here to gain deeper insights into these important updates.
Below are key insights we covered during the webinar.
The information is current as of the date of publication and is subject to change.
Tara Hagen, Director at GTN, kicked off the discussion with key mobility tax updates.
The 2017 Tax Cuts and Jobs Act (TCJA) is set to expire in 2025, though an extension is expected. Some of the key provisions of the TCJA include:
Notable new tax laws have been introduced for 2025:
Additionally, there are a few tax proposals under consideration, including:
The potential economic and fiscal impact of these changes could affect federal revenue, business investments, and individual taxpayers. Strategic planning will be key as tax changes unfold, and staying informed is essential.
Paul Blanchard, Sr. Vice President, Mortgage Banking at Rocket Mortgage, provided valuable insights into the mortgage market’s current state and future trends.
Despite temporary relief, inflation pressures in Q4 of 2024 led to a rebound in interest rates. The Federal Reserve is closely monitoring inflation, with anticipated rate cuts in 2025. It is expected that rates will stabilize around 6.5%, offering some relief to borrowers.
Uncertainty in the market is expected to persist as rate fluctuations continue to impact home affordability and mortgage demand. Speed, efficiency, and technology driven solutions will be key differentiators in the evolving landscape.
Michelle Solly, Relocation & Referral Director at Berkshire Hathaway HomeServices Professional Realty shared her perspective on the shifting real estate market.
It is still too early to determine the full effects of commission changes following the National Association of Realtors (NAR) settlement. Market fluctuations, elections, and policy changes have caused hesitation among buyers and sellers and articles reporting declines in commission rates do not yet have enough data to support generalized conclusions.
It remains unclear whether the Department of Justice has concluded its investigation into NAR and the real estate industry. Possible targets for further scrutiny include disclosure of referral fees and permission for sharing customer (employee) contracts.
Additionally, there could be a corporate mobility impact with changes in buyer behavior and commission structures impacting relocation benefits and costs for companies.
Gary Grund, Sr. Vice President of National Sales of Budd Van Lines, provided an update on the latest trends impacting corporate moves.
Companies had been seeing reductions in relocation costs due to declining fuel prices. February saw a slight uptick in rates to 12%, but trends suggest further decreases with new energy policies.
Extreme weather events, such as ice and snow in Florida and Texas and devastating wildfires in California, have created significant challenges for the moving industry.
Despite some uncertainty, corporate relocation remains active, especially for top executives. This indicates a sustained need for mobility. While corporate relocation may not return to previous highs, there are signs of continued demand for corporate moves.
Peter Bade, Managing Attorney at Corporate Immigration Partners / Envoy Global, walked through recent immigration policy changes and their implications.
A federal judge blocked the order that sought to limit birthright citizenship, citing its conflict with the 14th Amendment. As a result, at the time of this writing, all children born in the US, regardless of their parent’s legal status, will remain US citizens.
The US government has opted not to renew Temporary Protected Status for certain Venezuelan nationals who were granted this designation in 2023. Affected individuals will lose work authorization and face deportation by April 2 unless they obtain another legal status.
The administration has canceled the Cuban, Haitian, Nicaraguan, and Venezuelan parole programs. Additionally, the “Uniting for Ukraine” program has been suspended.
These policy changes could impact employers who rely on affected workers, potentially leading to labor shortages in key industries. Employers will need to navigate shifting policies and ensure employees maintain legal work status.
As we look to the future, the evolving landscape of mobility tax, real estate, mortgages, moving, and immigration will continue to present both challenges and opportunities. Staying proactive, informed, and adaptable will be essential for businesses and individuals navigating these changes.
By staying ahead of these trends, organizations can mitigate risks, capitalize on opportunities, and ensure continued success in an ever-changing environment.
If you’d like to discuss any of these updates in more detail, feel free to reach out to the webinar speakers for further insights and guidance.