SACRAMENTO, Calif — On Monday, Sen. Steve Glazer (D-Orinda) introduced a bill that would significantly increase the amount renters get on their state tax returns just for renting and being a resident of California.
Glazer said that if Senate Bill 248 was to become law, it would be the first time since 1979 that the tax credit for renters would be raised.
For single parents, the tax credit could increase from $60 to $434. Single people without dependents could see an increase of $160 in their tax credits.
“Housing costs are going through the roof in California and families are struggling to pay the rent,” Glazer said. “Forty years have passed since the last time the renter’s credit was increased, so it’s about time we provide this needed financial relief to renters.”
This bill has more than 28 members of the California legislation supporting it. Assemblymember Lorena Gonzales (D-San Diego) was one of the co-authors of the bill.
“Nearly half of the state’s residents are renters, but they have been largely ignored in our tax policies,” Gonzales said.
This bill is designed to help the renters of California who are struggling as rent prices continue to rise Glazer said.
Assemblymember Sharon Quirk-Silva (D-Orange County), another co-author of the bill, pointed out how the burden on renters could be a contributing factor to the homeless issues in the state.
"Hardworking families are ending up on our streets because they cannot afford to pay the exorbitant cost of rent in our state," Quirk-Silva said. "Students in Orange County, in particular, are commuting more than an hour, because their rent is too high."
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This mother represents the 56 percent of people in Sacramento County that are considered cost-burdened which means they spend 30 percent or more of their income on rent.