Assemblymember David Chiu Statement on Republican Tax Proposal
Assemblymember David Chiu today issued the following statement after Congressional Republican released their tax proposal:
“The secretive tax proposal unveiled today by Congressional Republicans is a giveaway to billionaires and large corporations that also punishes hard-working Californians. So many provisions of it are regressive and unprincipled, but in one policy area - affordable housing - the effect would be catastrophic. Eliminating private activity bonds, which are almost entirely used to build affordable housing, will hurt people struggling to find homes and will kill jobs.
The tax bill also proposes eliminating the mortgage interest deduction on second homes, as I have in Assembly Bill 71, but instead of investing those savings in affordable housing, the Republicans and Trump are proposing to fund these egregious tax cuts for the wealthy. This heartless plan must be stopped.”
Assemblymember David Chiu (D–San Francisco) is the Chair of the Housing & Community Development Committee of the California State Assembly. He represents the 17th Assembly District, which encompasses eastern San Francisco. Learn more at: https://a17.asmdc.org/