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Treasurer to Release Detailed Data on How GOP Tax Proposal Will Stall Affordable Housing Construction

 

PR17:61
Nov. 8, 2017

Contact: Marc Lifsher
news@sto.ca.gov
916-653-2995

SAN DIEGO – California’s Republican Congressional Districts will be among the big losers if two critical affordable housing programs are eliminated as planned under the proposed GOP Tax Cut and Jobs Act now in the House of Representatives.

The Low-Income Housing Tax Credit ($2.2 billion in 2016) and the Private Activity Bond Program ($6 billion in 2016) together account for more than 20,000 housing units in the state. Their elimination will help turn California’s housing crisis into a humanitarian and public health disaster and put low-income residents, veterans and seniors on the streets.

State Treasurer John Chiang will be joined by Assemblymember Lorena Gonzalez-Fletcher, D-San Diego, to release detailed district-by-district data on the two programs and information on funding to be eliminated if the proposed H.R. 1 becomes law.

The press conference will be held during the Fall Conference of the California Council for Affordable Housing in San Diego.

WHAT: Press conference detailing impact of the proposed federal Tax Cut and Jobs Act on California’s congressional districts.
WHEN: 9:30 a.m., Thursday, November 9.
WHERE: Pacific Rooms C&D, Wyndham San Diego Bayside, 1135 North Harbor Drive
San Diego 92101.
WHO: State Treasurer John Chiang, Assemblymember Lorena Gonzalez-Fletcher, the building trades and advocates for veterans and the homeless.

For more news, please follow the Treasurer on Twitter at @CalTreasurer, and on Facebook at California State Treasurer's Office.