The United for Homes Campaign reached a significant milestone on November 14 when Rose Espinoza of the La Habra City Council in California’s 39th district endorsed United for Homes. With this endorsement, the campaign can now boast support in all 435 Congressional Districts. Ms. Espinoza joins the other 1,779 organizations and elected officials who have endorsed the campaign. The campaign includes affordable housing developers, faith-based organizations, social service agencies, and other organizations.
“We knew that there would be broad support for making the mortgage interest deduction fairer and less regressive, for making it a tax credit that millions of additional low and moderate income homeowners would benefit from, and for investing the revenue raised in affordable rental housing. The fact that the United for Homes campaign now has endorsers in every Congressional District drives this home,” said National Low Income Housing Coalition President and CEO Sheila Crowley in a press statement announcing the endorsement.
The United for Homes campaign is to secure a sustainable and robust funding stream for the National Housing Trust Fund through simple, smart changes to the mortgage interest deduction: converting the mortgage interest deduction to a 15% non-refundable tax credit based on the interest paid on mortgages up to $500,000 (down from $1 million currently). Phased in over five years, the changes would raise $230 billion over ten years to invest enough in affordable rental housing to end homelessness and assure that the lowest income seniors, families with children, and people with disabilities have secure and decent homes.
The United for Homes Campaign supports H.R. 1213, the Common Sense Housing Investment Act of 2013, which includes our proposed changes to the mortgage interest deduction and directs the revenue raised to the NHTF and other low income housing programs.
To learn more about United for Homes and to endorse the campaign, go to www.unitedforhomes.org