Lucas,
We all know how important affordable housing is in New York. Every year it becomes more and more expensive to live in New York City.
We need to do something about it. Back me up as I work for more affordable housing in our community.
In Congress, I passed the Low Income Housing Tax Credit. That has lead to thousands of new, affordable apartments in Manhattan and the Bronx. I've fought to protect residents of Mitchell-Lama apartments from rent and tax increases.
We need to do more. That's why I helped fund the renovations of Randolph Houses.
We're moving in the right direction but need to do more, especially since our tax policy favors homeowners over renters. So many New Yorkers are unfairly disadvantaged by that. And so today, I'm introducing the Renters Tax Credit Act of 2014 and the Section 8 Relief Act of 2014 to provide some help to low-income renters.
The increase in rents is one of the most devastating liabilities for New Yorkers. We have to do something, we just can't stay in the sideline thinking that demand and supply is going to work. This tax credit will make it easier for working families to pay their rent.
Meanwhile, the Section 8 Relief Act will extend Section 8 vouchers for 40 years, rather than 20. That'll provide some additional stability for families who benefit from Section 8, avoiding the all-too-common fate where families are evicted because they can't afford the higher rent. It'll also keep New York City more affordable for longer.
But I can't keep doing this work without you. Contribute today to help me keep going!
Thank you,
Charles B. Rangel
Member of Congress