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Rent Relief Act Introduced in House of Representatives

Wednesday, August 22, 2018 - 9:45AM

Rep. Scott Peters, D-Calif., and four cosponsors introduced the Rent Relief Act of 2018 in the House of Representatives, following the introduction of related legislation in the Senate. H.R. 6671 would create a refundable tax credit for taxpayers who pay more than 30 percent of their gross income for a taxable year on rent and utilities. The credit percentage would be granted on a sliding scale from 100 percent for those with gross incomes of less than $25,000 to zero percent for those earning more than $100,000. People living in government-subsidized rental housing who pay more than 30 percent of their income on rent and utilities could claim the value of one month’s rent as a refundable tax credit. The legislation applies to rent at up to 150 percent of the fair market rent.

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