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Income-based housing benefit: Difference between revisions
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An '''income-based housing benefit''' is a government program which provides some type of financial or tax support for housing use to individuals who qualify on the basis of low income. By contrast, other major housing programs in the United States provide benefits to homeowners, typically regardless of income (e.g. [[Home_mortgage_interest_deduction|home mortgage interest deduction]]), or help fund development of housing (e.g. [[Low-Income_Housing_Tax_Credit|Low-Income_Housing_Tax_Credit]], or help fund housing-related service providers (e.g. homelessness programs).
''(note: this term was coined by YIMBYwiki, for apparent lack of a suitable existing one. It describes a category which is best-known in the United States in the form of ''
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== FAIR (Federal Assistance In Rental) Credit ==
''(proposed by Galante, et al, at Terner Center for Housing Innovation, UC Berkeley). ''
"The Federal Assistance In Rental (FAIR) Tax Credit is a policy proposal that uses the federal tax code to provide millions of American families with relief from their current rent burdens. Our federal budget and tax code reflects our priorities as a nation, and right now, renters are largely left out; while wealthy homeowners collect thousands of dollars in deductions from the federal government by filling out a form, low-income renters stand in line to enter a lottery in which only 1 in 4 will receive any support at all.
"The FAIR Credit seeks to rebalance this distribution of resources within the tax code to more fairly meet the needs of the renter population and to better ensure equal access to opportunity. It is a proposal that addresses our “demand side” challenges, and would serve as an important complement to supply-side solutions which are also needed to lower overall rental burdens. Ultimately, with big solutions on both fronts, quality rental housing that is affordable to a range of incomes will be within our reach."
== Housing Benefit (UK)
Housing Benefit is a means tested social security benefit in the UK that is intended to help meet housing costs for rented accommodation. It is the second biggest item in the Department for Work and Pensions' budget after the state pension, totalling £23.8 billion in 2013–14.[1]
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