NLIHC proposal to fund affordable housing

From the National Low Income Housing Coalition:

I am thrilled to share some very exciting news with you.  Just this week, Community Development Solutions of Washington, DC became the 500^th organization to sign on to NLIHC’s innovative proposal to fund affordable housing with savings from mortgage interest tax reform. We are off to a great start, but we need your help.

As we build support with advocacy organizations nationwide, I hope we can count you among our next 500 endorsers. Please sign on to our proposal today.

Your endorsement will send a powerful message that the mortgage interest deduction can be strengthened to help more middle and low income homeowners and that the savings can be used to end homelessness and create jobs by building more affordable rental homes for low income families. The proposal achieves these goals by:

• Placing a cap on the maximum mortgage to receive a tax break at $500,000.
• Converting the tax deduction to a non-refundable credit, which will provide a much needed tax benefit to middle and lower income families.
• Capitalizing the National Housing Trust Fund with billions of dollars of savings that the mortgage interest tax reform will bring.

Visit www.housingtaxreform.org for more details on our proposal. To see how mortgage interest tax reform will affect you, use our online calculator.

The support of our grassroots network of advocates is essential to advancing this proposal in the weeks and months to come. Please join us, endorse today, and forward this message to your network.

Sincerely,

 

Sheila Crowley

President and CEO