08 Nov Call to Action
Dear Community Corp friends and affordable housing advocates,
A proposed tax reform plan in Congress threatens affordable housing.
We need you to help save affordable housing by calling your representative TODAY. If House Committees do not restore essential tax benefits that fund affordable apartments by this Wednesday, November 8th, this funding will be gone.
The current draft tax reform bill plan is currently moving through Congress with a potentially devastating result of reducing affordable housing. The production vehicles bill may eliminate the tax exempt bond program, which funded the development of nearly 20,000 affordable housing in California.
Please call your Congressional representative and let them know in particular:
–Ask them to vote no on eliminating the multifamily tax-exempt bond program and New Market Tax Credits, two important vehicles for affordable housing production.
-Urge then to retain the low income housing tax credit.
-Ask them to vote no on reducing the corporate tax rate from 35-20%. This will reduce tax credit investment need.
WHEN: Call Today!
Thank you for your attention!
Community Corporation of Santa Monica