Democratic presidential candidate Julián Castro unveils plan to transform and expand a housing assistance program for the poor and give renters a tax credit.
It would be a progressive tax credit that would give priority to low-income individuals and cover families earning 50 to 100 percent of the area median income. The credit would be paid monthly and participants could direct their credits to a tax-advantaged savings account to use for a down payment on a mortgage.
Castro also seeks to increase the supply of affordable housing with investments in construction of additional public housing, in upgrades of public housing and through the expansion of the Low Income Housing Tax Credit.He set lofty goals for housing should he be elected. He said he would end veteran, child and youth homelessness by the end of his first term and end chronic homelessness by the end of 2028.
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