Cory Booker unveils affordable housing plan including tax credit for renters

Democratic presidential candidate Cory Booker has released a housing proposal that includes a tax credit designed to help make rentals more affordable plus zoning changes and new funding aimed at boosting construction of units for low-income renters.

The New Jersey senator’s plan was released Wednesday and builds on legislation he introduced last year in the Senate that would establish a new refundable renters’ credit. That benefit would kick in to help limit lower- and moderate-income renters’ housing bills to no more than 30% of their income.

Booker’s housing plan also includes new spending to help lower-income renters obtain legal representation in eviction proceedings.

Booker launched his 2020 campaign in February. He says housing is “very personal” to him, citing his family’s battle with racial bias during a move to New Jersey during his childhood.