End a Regressive Tax Break AND Fund Subsidized Housing!
AB 71 is in the Committee on Rev & Tax!
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Please support AB 71 and help create more affordable housing for desperate Californians.
AB 71 will end a tax break that allows homeowners to deduct the interest from the mortgage on their second home from their state taxes. It’s time for wealthy people who own multiple homes to chip in to support low income families suffering from the lack of affordable housing. About 31,000 Californians received the tax break last year, costing the state about $300 million - money that could be better spent alleviating the housing crisis. AB 71 would direct funds to an existing program that finances low-income housing construction through tax credits.