GOP tax reform bill punishes homeowners
California Realtors are not happy with the GOP’s most recent version of the tax reform bill now up for vote this week.
This week the California Association of Realtors issued the following statement in response to the final Tax Cuts and Jobs Act tax reform bill released last Friday:
“The final tax reform bill released punishes homeowners and weakens homeownership, and in fact, it looks at homeowners and the housing market as nothing more than a piggy bank,” said C.A.R. President Steve White. “Congress is touting this as a tax cut for middle-class families, but the reality is that thousands of California middle-class homeowners will be the first ones to face tax increases.”
“California is a donor state, meaning for every dollar we send to the federal government, they send back less than a dollar. California homeowners and consumers deserve better. With homeownership already a stretch, or out of reach altogether for so many Californians, now is not the time to make owning a home more difficult.”
“C.A.R. will continue to advocate for homeownership and urge Congress to vote No on legislation that negatively impacts California homeowners and lowers corporate taxes on the backs of families wanting to buy a home,” said White.