Following the passage of SB 808, KTVZ reports on real affordable housing solutions being explored in the state legislature.
With news reports already showing negative impacts of rent increases caused by Senate Bill 608, the statewide rent control bill, Rep. David Brock Smith (R-Port Orford) is proposing House Bill 3402, a “Renters Tax Deduction” similar to the mortgage interest deduction for homeowners.
“SB 608 is already driving rent prices higher as an unintended consequence. The reality is, until the state does something about the supply-side of housing, rent prices will be higher than other states with similar median family incomes.
One way we can combat the high price of rent is to let the 40% of Oregonians who are renters have a comparable rent deduction off their personal income taxes,” Rep. Brock Smith said.
Read more here.
