President Donald Trump is expected to visit California this week, a state with the top five housing markets hit hardest by the recently-passed Tax Cuts and Jobs Act.
Coastal, politically left-leaning states may be hit the hardest by the new tax law. The 15 states where median homeowners would lose homeowner tax benefits of more than $100 annually are all states Hillary Clinton won in the 2016 election, ApartmentList reports. President Trump won by a margin of 14 points in the states where the median homeowner will not be affected by such tax benefit reductions over $100 per year.
The impact of the changes is felt disproportionately in left-leaning parts of the country. There are 15 states in which the median homeowner will receive at least $100 less in housing tax deductions under the new plan — President Trump carried none of these states in the 2016 election .. The loss of housing deductions still amounts to a shifting of incentives that make homeownership less attractive.
PB Topical Ref
