Cathy Bernstein, 10th Congressional, New York

Housing Costs Are Sky High

10% FEDERAL RENTER'S TAX DEDUCTION:

Cathy Bernstein is promoting a yearly ten percent (10%) Federal Rent Tax Deduction for families making under $100,000 adjusted gross income in the current tax year to help with the ever-increasing cost of living in the city. 

Today, the average age of a home buyer in the country is 46 years old. In the 10th Congressional, more than half of the population are renters. A permanent Federal Rent Tax Deduction of 10% will offer the same benefits to renters as to homeowners, and help aid the poor, working and middle class to save for the American dream of home ownership.

If, for example, you make under $100,000 AGI, and your monthly rent is $3,000, your yearly rent would equal $36,000. Therefore, your rent tax deduction on your 1040, Schedule A would equal $3,600.  No fuzzy math here.

 

ELIMINATE SALT TAX CAP:

Eliminate the $10,000 Cap on SALT Taxes that hurt New Yorkers and erode property value. Residents of NYC already pay some of the highest tax rates in the country.  Those in Congress should be arguing for what is best for his or her constituents, regardless of party affiliation. Jerry Nadler opposes Trump at every step, but has done surprisingly very little to offset the steep burden that New Yorkers face on the tax front. 

Peter King has led the way with a bipartisan bill to phase out the cap on the SALT Tax, and Cathy plans to make sure it comes to fruition. 

 

ASK MORE FROM HUD:

Residents in Brooklyn and Manhattan need true affordable housing and we should demand that HUD promote projects that deliver such housing for our hundreds of thousands of residents and their families. 

 

MAKE NYCHA MORE ACCOUNTABLE:

We should also support efforts to make NYCHA more diligent in repairing the thousands of city-owned apartments in our district. Residents of the Elliot-Chelsea and Fulton houses need housing that is always up to standards. We must always remember that fixing housing problems now will avoiding larger problems and costs to the taxpayers in the future.  The housing crisis in New York affects us all.

 

BALANCE BETWEEN REDEVELOPMENT AND CURRENT HOMEOWNERS:

Building in New York, and promoting growth in our city, should not come at the steep cost of preventing working class families from living in and engaging with our community. We must find the intersection between promoting positive and uplifting development for our community while balancing the negative externalities of increased prices and general unaffordability. Most saliently, we must combat homelessness and defend those in danger of being marginalized in such a way within their own communities and homes.