Senate tax reform bill is direct attack on homeownership in California, C.A.R. says

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Dec 02, 2017, 08:43 ET

LOS ANGELES, Dec. 2, 2017 /PRNewswire-USNewswire/ -- The CALIFORNIA ASSOCIATION OF REALTORS^® (C.A.R.) today issued the following statement in response to the passage of the Senate tax reform bill:

"We are disappointed that the Senate voted to pass a tax hike bill on California homeowners. This bill will eliminate the financial benefits for homebuyers and leave hundreds of thousands of Californians worse off than they are today," said C.A.R. President Steve White. "If the goal of this bill is to help middle-class Americans keep more of their hard-earned money, this proposal fails miserably."

"We thank California Sens. Dianne Feinstein and Kamala Harris for opposing this legislation that attacks homeownership by significantly reducing incentives for people to buy homes. California already has a severe housing affordability crisis, and this bill will make it that much harder for Californians looking to attain the American dream," said White.

Leading the way... ® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS^® (www.car.org) is one of the largest state trade organizations in the United States, with more than 190,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

SOURCE CALIFORNIA ASSOCIATION OF REALTORS