64% Support Increased Federal Funding to
Help End Homelessness in NJ
A sizable majority of registered New Jersey voters surveyed expressed support for increasing federal funding for affordable home development to address homelessness as well as opposition to cutting state funding for affordable homes to address the state’s budget deficit.
Approximately half of New Jersey voters also expressed support for reforms to the mortgage interest deduction that would generate resources to be used to address homelessness.
The National Low Income Housing Coalition (NLIHC) and state partner, the Housing and Community Development Network of New Jersey released the poll.
Key findings from the poll include:
- Sixty-four percent of New Jersey voters polled supported increasing federal funding for affordable homes to help end homelessness
- Fifty-one percent of New Jersey voters favored capping the amount of a mortgage against which homeowners can claim a tax break to $500,000 (down from $1 million currently).
- 50 percent supported replacing the mortgage interest deduction (which only those who earn enough to itemize on their taxes can claim and that disproportionately benefits households in the highest tax brackets) with a 15 percent tax credit that all homeowners with a mortgage could claim.
“New Jersey voters’ support for smart investments to end homelessness is extremely encouraging. With these modest changes to the mortgage interest deduction, we could end homelessness in New Jersey and nationally without any additional cost to the federal government.”
Said Sheila Crowley, President and CEO of the National Low Income Housing Coalition.
When asked if they approve or disapprove of the New Jersey state government cutting funds intended for creating more affordable homes in order to reduce the state’s budget deficit, a resounding 66 percent “disapproved” and only 27 percent “approved” of such cuts.
“Our elected officials need to invest in ways to create more of the affordable homes New Jersey residents need and want. This polling shows that voters want New Jersey’s budget to spur opportunity and help our economy and residents thrive.”
Said Staci Berger, President and CEO of the Housing and Community Development Network of New Jersey.
Click here to read more about the poll.
Click here for the full poll report.