San Mateo Daily Journal
By Corey Browning
California’s tax credit for renters could soon increase after remaining stagnant for more than 40 years if a bill with broad bipartisan support introduced this week moves ahead.
The legislation, Senate Bill 843, was introduced Wednesday by state Sen. Steve Glazer, D-Contra Costa, with 43 co-authors, including local legislators state Sen. Josh Becker, D-San Mateo, and Assembly Speaker pro Tem Kevin Mullin, D-South San Francisco.
The law would increase the existing $60 credit for single filers to $500, and the $120 credit for heads of household, surviving spouses or joint filers to $1,000. The larger deduction would also for the first time be available to single parents. Single filers earning $43,533 or less and joint filers earning $87,066 or less would be eligible...
“California renters are caught between the soaring costs to keep a roof over their heads and the scarcity of affordable housing,” [Senator Becker] said in a statement. “No one feels the squeeze as much as low-income families. They often have no options but to pay rising rents.”