"While Californians struggle to make rent and cover basic necessities like food and medical care, we cannot afford to lose the largest program providing affordable housing," said the letter, dated Thursday, to House Majority Leader Kevin McCarthy of Bakersfield and Minority Leader Nancy Pelosi of San Francisco. The House GOP plan would effectively eliminate part of a tax credit program that reduces what companies owe in taxes in exchange for investing in low-income housing projects. In addition, it would do away with a federal bond program that also funds housing developments. The letter follows similar ones from Assembly Speaker Anthony Rendon (D-Paramount) and Assembly Democrats and State Treasurer John Chiang.
Welcome to Essential Politics, our in-the-moment look at California political and government news. California gubernatorial candidate John Chiang wants to tackle the state's housing affordability crisis by spending billions more on low-income development and offering greater financial incentives to cities that permit new building. "The housing shortage in this state is a drag on our economy and is a barrier to climbing the socioeconomic ladder for thousands of families in California," Chiang said in a statement. Chiang, the state treasurer, released the plan on his campaign website Friday. Promoting a $9-billion bond to help fund new low-income housing development and an additional $600 million in annual spending through a low-income housing tax credit.
With downtown Los Angeles in the background, a woman runs near the Bowl Loop at Kenneth Hahn State Recreation Area. With downtown Los Angeles in the background, a woman runs near the Bowl Loop at Kenneth Hahn State Recreation Area. Californians could vote on billions of dollars in new spending for low-income housing developments and water and parks improvements next year. Gov. Jerry Brown and lawmakers are considering five proposals that would finance new homes for low-income residents, build parks in neighborhoods without them and restore rivers, streams and creeks among dozens of other projects. The Legislature is likely to decide how much money would be borrowed and where it would be spent before it adjourns for the year in mid-September -- a debate that legislative leaders say is pressing.
California politics updates: Rohrabacher says he'll take info he learned from Julian Assange back to President Trump This is Essential Politics, our daily look at California political and government news. Lin-Manuel Miranda will take his'Hamilton' fame to a meeting with students with Rep. Tony Cardenas Thursday Republican congressmen have been speaking out Charlottesville violence in response to Trump's comment blaming "both sides." Former Gov. Arnold Schwarzenegger donated $100,000 to a Los Angeles group in the wake of the weekend violence in Charlottesville, Va. Gavin Newsom spent some time courting voters in the Central Valley. Lin-Manuel Miranda will take his'Hamilton' fame to a meeting with students with Rep. Tony Cardenas Thursday Republican congressmen have been speaking out Charlottesville violence in response to Trump's comment blaming "both sides."