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Amid Rising Costs of Housing, Harris Introduces Bill to Provide Rent Relief

July 20, 2018

By Kamala Harris

WASHINGTON, D.C. – With the cost of housing continuing to rise in California and across the country, U.S. Senator Kamala D. Harris today introduced legislation to provide rent relief for working families struggling to pay their bills. The Rent Relief Act would create a new, refundable tax credit to put more money in the pockets of families at a time when renters’ wages have remained stagnant and housing costs have increased rapidly. Harris was joined in the introduction by Senators Dianne Feinstein (D-CA), Richard Blumenthal (D-CT), and Maggie Hassan (D-NH).

“America’s affordable housing crisis has left too many families behind who struggle each month to keep a roof over their head,” said Senator Harris. “This bill will ensure no family is priced out of the basic security of a place to live. Bolstering the economic security of working families would strengthen our country and increase opportunity.”…

Under Harris’ Rent Relief Act, the refundable tax credit will be available to individuals who live in rental housing and pay more than 30% of their gross income for the taxable year on their rent including utilities. Eligible individuals would qualify for the tax benefit by determining the total amount spent yearly on rent, taking into account the family’s annual income, and a rate of the federal government’s established fair market rent controls.

Individuals who live in government-subsidized rental housing could claim the value of one month’s rent as a refundable tax credit. Subsidized rent is normally capped at 30% of a person’s income, making them eligible for the tax benefit for rent-burdened residents. The Rent Relief Act would give much-needed relief to lower income residents.

The Rent Relief Act would give much-needed relief to Californians! For a list of supportive statements, click here(more)

How about the shrinking middle class? Where do they get the relief they need to stay afloat? We shall need to see the legislation as it evolves.

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