SACRAMENTO – Today, Capitol Democrats killed a Republican coauthored proposal that would have provided California renters with thousands of dollars in financial relief.
“California has the largest budget surplus in our state’s history. With inflation at a 40-year high, it only makes sense to help renters living paycheck to paycheck. But Capitol Democrats are insisting on doing the opposite. Today, they rejected relief for renters. And next week, they will attempt to jam through last minute proposals that will jack up costs for gas, groceries, electricity, and housing. To say they are out of touch would be an understatement.”
-Assembly Republican Leader James Gallagher (R-Yuba City)
“We have seen the American dream of homeownership become the California dream of making your rent. For many, this $1000 could be the difference between making or missing next month’s rent. With all of the adverse circumstances our state is facing, from rampant job loss to rising inflation and unaffordability, this tax credit could not come at a better time for renters.”
-Assemblywoman Suzette Valladares (R-Santa Clarita)
According to a new report, California cities topped the list of the most expensive places for renters in the U.S.
Amendments to SB 843 authored today by Assembly Republicans would have increased the renter’s tax credit to $1,000 for individuals and $2,000 for joint filers. The motion was defeated by a vote of 37-16.