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U.S. Treasury Deputy Secretary Justin Muzinich highlighted developments in housing finance reform, Committee on Foreign Investment in the United States reform, digital taxation, and cryptocurrency policy.

Sears Holding Corp. ("Sears"), the parent of Sears and Kmart, announced in a recent SEC filing that it is actively considering monetizing some of its real estate holdings by selling and leasing back certain of its real estate assets to a newly formed Real Estate Investment Trust ("REIT"). Sears' proposal could reduce its U.S. tax bill while creating a stream of rental income earned by the REIT that could escape corporate level tax. Other companies used tax-free spin-offs to move real estate off their tax books and into more tax-efficient structures, such as REITS, but House Ways and Means