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INTRODUCTION OF THE RENT RELIEF ACT
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HON. DANNY K. DAVIS
of illinois
in the house of representatives
Wednesday, July 13, 2022
Mr. DANNY K. DAVIS of Illinois. Madam Speaker, today I introduce the Rent Relief Act to create an innovative tax credit to help millions of struggling renters. Thomas Jefferson once said: ``The care of human life and happiness, and not their destruction, is the first and only object of good government.'' Unfortunately, 213 years later, I still witness thousands of people in Chicago struggling to pay rent. I see people pushed into the streets because they simply could not afford their housing. During the pandemic we saw clearly that the tax code can help provide direct financial assistance to struggling Americans to alleviate poverty and improve quality of life. The Rent Relief Act is an example of good government policy that cares for human life.
It is unacceptable that 36 percent of children in Chicago, and 30 percent of children nationwide, wonder if today may be the last day they have a roof over their heads. It is unthinkable that nearly 45 percent of Hispanic and Black children experienced housing insecurity in the midst of a pandemic. Safe housing is at the foundation of social, emotional, and economic well-being, and Congress must do more to meet the profound need of millions of Americans for stable housing.
This is why I am proud to join with Representatives Jimmy Gomez, Scott Peters, and Jimmy Panetta to champion the Rent Relief Act. The bill would create a fully-refundable tax credit that would cover a share of the difference between 30 percent of one's adjusted gross income and the actual cost of rent and utilities, capping the benefit at 100 percent of Small Area Fair Market Rent. Importantly, the bill targets the families in greatest need by limiting the credit to those earning less than $100,000. If you earn less than $25,000, the credit would cover the entire income-to-rent gap, with the credit phasing out as one's income increases.
Direct grant assistance, affordable housing, eviction moratoriums, and the Low-Income Housing Tax Credit are essential federal tools to increasing housing stability. Unfortunately, only 1 in 4 eligible households receives any help, and some households spend years on waitlists due to inadequate funding. A renter's credit could help every eligible taxpayer afford housing and improve their quality of life, working in concert with other federal programs to help end America's housing crisis.
By enacting the Rent Relief Act, families will not fall into the spiral of missed payment after missed payment because it wasn't their turn on a waiting list. They will be able to get rental help when they need it to pay the bills when they need to.
As a government, it is our duty to care for human life and that begins with making sure that Americans enjoy housing stability so they can live without the fear of eviction or making the horrible choice between a roof over their heads or medicine and food for their children.
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SOURCE: Congressional Record Vol. 168, No. 115
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