H.R. 1213 includes the United for Homes Campaign’s proposed changes to the mortgage interest deduction, and would apply the majority of the revenue raised by the changes to the National Housing Trust Fund.
The bill currently has 10 co-sponsors and has been referred to the House Committee on Financial Services. To date, no members of the New Jersey delegation have signed on to the letter.
“The federal government spent $270 billion in 2012 to help Americans buy or rent homes, but little of that spending went to the families who struggle the most to afford housing.”
Mr. Ellison said in the letter,
“changes to the mortgage interest deduction are being considered as part of tax reform. My bill retains those funds in housing and targets them to those most in need of a safe and affordable option by investing in public housing, the National Housing Trust Fund and an expansion of the Low Income Housing Tax Credit.”
Monarch Housing Associates urges advocates to request that NJ’s representatives in Congress cosponsor the measure.