A Call for Action is underway, with critical impact on homeownership in Chicago and across the country. Take one minute today to ask your federal legislators to protect middle class homeowners while considering reforms to the U.S. tax code. The current tax reform proposals are a direct threat to consumers, weakening or eliminating many critical homeownership incentives. The time to act is now.
Take Action and remind your colleagues to take one minute today to ask Congress to protect homeowners while considering reforms to the U.S. tax code.
- Under the current proposal, millions of homeowners will see a tax increase.
- If the bill is enacted, we anticipate a 10% drop in home values.
- Homeownership tax incentives will be beyond the reach of more than 90% of American families.
- It will cost our children and grandchildren $1.5 trillion in new federal debt.
- Homeowners in all 50 states would be double-taxed on the money they pay for state/local taxes.
- If you buy a home and then have to move within 5 years, you could be hit with a big tax bill under this plan.
All this from a bill that is supposed to improve the current system. This is a clear and present danger to American homeownership.