Final GOP tax reform bill punishes homeowners and weakens homeownership, C.A.R. says

LOS ANGELES, Dec. 15, 2017 /PRNewswire-USNewswire/ -- The CALIFORNIA ASSOCIATION OF REALTORS^® (C.A.R.) issued the following statement in response to the final Tax Cuts and Jobs Act tax reform bill released today:

"The final tax reform bill released punishes homeowners and weakens homeownership, and in fact, it looks at homeowners and the housing market as nothing more than a piggy bank," said C.A.R. President Steve White. "Congress is touting this as a tax cut for middle-class families, but the reality is that thousands of California middle-class homeowners will be the first ones to face tax increases."

"California is a donor state, meaning for every dollar we send to the federal government, they send back less than a dollar. California homeowners and consumers deserve better. With homeownership already a stretch, or out of reach altogether for so many Californians, now is not the time to make owning a home more difficult."

"C.A.R. will continue to advocate for homeownership and urge Congress to vote No on legislation that negatively impacts California homeowners and lowers corporate taxes on the backs of families wanting to buy a home," 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