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Cory Booker’s Housing Plan Offers Tax Credit to Millions of Renters [The New York Times]

New York Times (NYT)  More Company Research Source: The New York Times
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PDF Cory Booker’s Housing Plan Offers Tax Credit to Millions of Renters - The New York Times Senator Cory Booker of New Jersey on Wednesday unveiled a plan to tackle affordable housing that would provide a tax credit for renters to ensure they would not spend more than 30 percent of their income on rent — a sweeping new entitlement program that his campaign estimated would reach 57 million Americans, including 17 million children. The plan, which draws heavily from legislation Mr. Booker introduced last year, comes about three weeks ahead of the first Democratic debate At the center of Mr. Booker’s proposal is the renters’ tax credit, which would cover the difference between 30 percent of a person’s income and the fair-market rent in his or her neighborhood. There would not be an income cap limiting who could qualify, according to the campaign, which said the median participating family would receive $4,800 per year. His campaign estimated the program would cost $134 billion annually. It [Read more]

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