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USA TODAY - Ken Tran
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Tran’s new affordable housing bill would deliver $4,000 in annual savings to over 75,000 households in CA-45
Garden Grove, CA – To lower housing costs nationwide, frontline candidate and Democratic nominee Derek Tran introduced the Housing Cost of Living Support for Tenants Act (Housing COST Act) establishing tax credits for renters.
The Housing COST Act creates a baseline 8% refundable tax credit for renters who make a gross income of $150,000 or less. This tax credit has a maximum household cap of $333 a month, resulting in approximately $4,000 in annual savings. 75,000 households across Orange and Los Angeles Counties would benefit from this legislation.
“Housing costs continue to skyrocket for Southern California families,” said Congressman Tran. “I refuse to sit on the sidelines while Congressional Republicans hand Donald Trump blank checks for his costly forever wars and billionaire-first policies. We must meet this moment with the urgency it deserves. I’m introducing the Housing COST Act because families should not have to choose between keeping a roof over their head or paying for groceries and other necessities. I urge my colleagues to support this legislation and get back to serving the American people.”
Congressman Tran is a strong advocate for working families across California’s 45th Congressional District. In July, Tran demanded President Trump sign the bipartisan 21st Century ROAD to Housing Act into law, legislation that overhauls construction regulations and expands affordable housing. In April, Tran secured $250,000 in federal funding to build 2,700 affordable housing units across Orange County. Additionally, he is a cosponsor of the Saving the American Dream Act and the Affordable Housing Credit Improvement Act which equips the federal government with resources to rapidly expand access to affordable housing.
