Tuesday, September 18, 2018

Bill would give tax relief to renters

There's a bill in Congress that would give tax relief to millions of Americans. Sadly, I don't expect the Republicans to support it, despite the GOP's bogus claim to support lower taxes.

As gentrification artificially jacks up housing costs, many politicians refuse to act. In fact, they try to make it worse. But the Rent Relief Act - introduced by Sen. Kamala Harris (D-California) - would reduce the burden of housing costs by giving a tax credit to renters who spend more than 30% of their income on rent and utilities. It would apply to renters who make less than $100,000 a year - or $125,000 in some areas - and it wouldn't apply to luxury rentals.

If this bill passes, it would be the first federal action in modern times to fight America's growing housing crisis. It would also give renters tax benefits that homeowners - especially the richest - already receive.

There aren't many reasons why anyone would oppose this bill - except for the tyrants who yell out, "LET THE MARKET DECIDE!!!" when confronting any situation. Unfortunately, market fascism is the dogma that guides the current Congress.

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