Comprehensive tax reform offers a once-in-a-generation opportunity to address one of the biggest barriers to economic success for families struggling to get by: the lack of decent, accessible and affordable homes for the lowest income people. Instead, House Republicans offered a tax plan that would use housing dollars saved by reforming the mortgage interest deduction to pay for tax cuts for billionaires and corporations. This is unacceptable.
Please sign your organization onto the United for Homes letter urging Congress to reinvest housing dollars into deeply targeted affordable rental housing solutions that serve people with the lowest incomes, such as the national Housing Trust Fund or a renters’ tax credit.
House Republicans are working quickly to advance a tax bill that would siphon off savings from needed reforms to the mortgage interest deduction – a $70 billion tax expenditure that increases income inequality and fuels the racial wealth gap – to pay for bigger tax breaks for corporations and wealthy households. This includes providing tens of billions of dollars in tax breaks to the highest income people by eliminating the estate tax and repealing the Alternative Minimum Tax and by lowering corporate tax rate from 35% to 20%. Overall, the bill would slash federal housing dollars and add $1.5 trillion to the national debt.
HOW YOU CAN TAKE ACTION
Congress needs to hear from you.
Sign onto the letter urging Congress to reinvest housing dollars into deeply targeted rental housing solutions for those with the greatest needs – not to provide tax breaks for the wealthy and corporations. The deadline to sign on is Friday, November 10.
Join the United for Homes webinar tomorrow, November 8 at 2pm to learn more about the Republican tax plan and next steps for our campaign to help end homelessness and housing poverty. Register here: http://bit.ly/2irHS2E.