Stop the Housing Tax for Transportation
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Hidden tax on homeowners
The California Association of Realtors® in conjunction with the National Association of Realtors® has published a widespread “Call to Action”, Stop Congress From Taking Money From Future Homeowners.
I have already contacted my Congress Member and received a reply.
In a nutshell, the bill being discussed is a hidden tax on homeowners. Whether on a refinance or on a new purchase, anyone with a mortgage of about $400,000 could expect to pay an additional $8,000 for federal transportation infrastructure funding through an add on mortgage tax included in their monthly payment!
For decades the Federal Highway Trust Fund has been raided by Congress for unrelated pet projects. NOW they want homeowners to replenish it! Average American homeowners.
This will affect every single American Consumers that obtain a mortgage! Ostensibly it is a ten year tax, but when is the last time we ever saw a long term tax sunset clause allowed to kick in?
Take Action Now and prevent Congress from taxing homeowners to fund transportation projects.