Tax Reform Bill Would Harm Millions of Low and Moderate Income People
On December 2, 2017, after the passage of the Senate Republic Tax Reform bill, Diane Yentel, President and CEO if the National Low Income Housing Coalition issued a statement, “Senate Passes Tax Bill That Would Increase Economic Inequality and Harm Millions of Low and Moderate Income People.”
Wrote Yentel, “Senate Republicans approved a tax plan today that, if enacted, would harm millions of the lowest income seniors, people with disabilities, families with children, veterans, and other at-risk populations in need of federal investments to help them afford a roof over their heads. With this vote, Republicans in Congress are one step closer to providing massive, unpaid-for tax cuts for the rich and powerful, draining resources needed for other critical investments, including affordable housing.”
On December 1, 2017, Yentel gave a keynote address to New Jersey housing providers, housing developers, homeless service providers, and advocates attending the Supportive Housing Association of New Jersey (SHA) annual conference.
Yentel told the audience that advocates need to continue what will be a long fight to protect affordable housing for the most vulnerable Americans.
“Our country needs to make a major investment in repairing and rebuilding homes and communities devastated by recent disasters, and in solutions to the rental housing crisis impacting communities across the country,” wrote Yentel. “Passing this tax bill, the benefits of which are vastly skewed towards making the wealthy even wealthier and the harm of which will be most felt by the lowest income people, is grossly irresponsible.”
In her statement Yental reminded us, “Nationally, there are just 35 homes affordable and available to every 100 of the lowest income families. Due to chronic underfunding of critical affordable housing programs, just one in four low income households in need receives any assistance. The rest, more than 8 million extremely low income households, live on the cusp of homelessness – most paying more than half of their incomes on rent – or they are one of the hundreds of thousands of people who have no homes at all.
“Instead of addressing one of the greatest barriers to economic success for families struggling to get by – the lack of decent, accessible and affordable homes for the lowest income people – the Senate bill will make it even harder for the poorest families in America to have an affordable place to call home,” concluded Yentel.