With the tax plan he proposed yesterday, President Trump missed a significant opportunity to rebalance federal housing policy to help more everyday Americans – homeowners and renters alike – afford a place to call home.
Instead of embracing the smart, modest United for Homes campaign reforms to the mortgage interest deduction (MID) – a $70 billion tax write-off that largely benefits higher income households – that would provide tax relief to 15 million more low and moderate income homeowners, the Trump tax plan would make the MID even more regressive, benefitting only the wealthiest Americans. Rather than reinvesting the savings from MID reform to help our nation’s most vulnerable renters who struggle to pay their rent each month, the tax plan uses housing dollars to pay for lowering tax rates for millionaires, billionaires and corporations.
With your help, United for Homes will continue to urge President Trump and Congress to seize this opportunity to make the critical housing investments that America’s families and local communities need to thrive.
Find out how you can help at www.unitedforhomes.org.