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LIIF Signs On in Support of Reps. Gomez, Davis, Peters and Panetta Bill to Help Millions of Struggling Renters via Innovative Tax Credit

LIIF, along with 34 mission-aligned organizations, has signed on in support of innovative legislation introduced to help millions of cost-burdened renters at a time when housing costs are skyrocketing as the gap between incomes and housing costs grows.

The Rent Relief Act would:

  • Build on the success of the Child Tax Credit to provide monthly support to renters earning less than $100,000 annually who spend at least 30% of their gross income on rent and utilities.
  • Help housing cost-burdened renters bridge the gap between income and rents by providing a refundable tax credit that covers a share of the difference between 30% of income and rent, capped at 100% of Small Area Fair Market Rent.
  • Ensure the lowest-income families benefit by making the credit fully refundable.
  • Overcome administrative barriers that often prevent households from accessing rental assistance by providing relief directly to renters and minimizing landlord involvement.
  • Improve access to the credit by funding community outreach to help eligible individuals learn about and apply for the credit.

    Read the press release.