Calls for Action

OREGON CALLS FOR ACTION

This week, the House Committee on Revenue and the House Committee Human Services & Housing will hold hearings on bills that would seriously undermine or eliminate homeownership incentives in Oregon.

We are in the middle of a housing crisis in Oregon. The last thing we need is the elimination of incentives that make homeownership possible for the average Oregonian.

At 1:00 p.m. on Tuesday, Mar. 7th, HB 2771 is up for a hearing. The bill raises income taxes on every homeowner earning $50,000/annually, and completely eliminates the ability to deduct property taxes for people who earn $125,000/annually. Why should homeowners have to pay taxes on money they already sent to local governments to pay their property taxes? HB 2771 is a tax on a tax!

Even worse, at 8 am on Thursday, Mar. 9th, HB 2006 will be up for a hearing in the House Human Services & Housing Committee. The bill would effectively eliminate the Mortgage Interest Deduction for many Oregonians throughout the state. The Mortgage Interest Deduction has been a foundational component of homeownership since the inception of the federal tax code.

Oregonians at all income levels rely on the Mortgage Interest Deduction to afford their homes. The bill sets arbitrary income limitations on the Mortgage Interest Deduction, leaving many Oregonians to face even higher taxes to keep their homes. For our tourism-based communities, the bill removes all tax incentives to purchase vacation homes.

Now is not the time to reduce these valuable incentives for homeownership.

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When Congress is considering legislation that affects the real estate industry, NAR calls on its members to act. Simply by contacting your Member of Congress through an e-mail or a phone call, you can ensure that your business remains strong. NAR members join together and speak with one loud, powerful voice.

NAR’s REALTOR® Action Center: http://www.realtoractioncenter.com/realtor-party/act/calls-for-action.html

 

There are currently no Calls for Action.  Be sure to check back frequently for updates. 

 

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