Representative Camp releases his proposal for tax reform. What does it mean for smart growth?

Yesterday Representative Dave Camp (R-MI), Chairman of the House Ways and Means Committee, introduced his proposal for comprehensive tax reform—and it has big implications for real estate and smart growth.

Each year Americans take billions of dollars worth of income tax deductions related to real estate. Things like the mortgage interest deduction and property tax deduction can represent big savings for a household—so big that they can influence taxpayers’ decisions about the type of home they buy. Even more credits are available to real estate developers, who can get tax breaks to help pay for things like redevelopment or the construction of low-income housing.

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What portion of income taxes go to creating better neighborhoods?

Whether you planned ahead or rushed to get them done, income taxes were due yesterday. Income tax pays for a variety of federal programs, including programs that help communities build in better ways. What portion of income taxes go to these programs?

The White House’s Federal Taxpayer Receipt breaks down how much of the budget was spent on different programs, and what that means for an average taxpayer’s tax payment. Enter your tax information below to find out exactly where your tax payment went.

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