East County News Service
November 15, 2017 (Sacramento) – CalVet Secretary Dr. Vito Imbasciani has issued a stating warning veterans about the impacts of the tax proposal in Congress.
He says, “Former service members living in California could end up on the streets if Congress passes its draft tax proposal. This hasty plan would eliminate tax-exempt bonds, which help us fight homelessness and find affordable housing for California veterans.”
Two of CalVet’s critical housing programs rely on tax-exempt bonds – Proposition 41, which funds affordable housing for homeless vets, and the state’s 95-year old CalVet Loan program that makes homeownership possible for veterans who cannot qualify for a private loan.
The CalVet Loan program has helped more than 600 veterans and their families secure affordable housing in the past year and Proposition 41 has helped the agency place more than 2,000 veterans and their families into stable homes.
Dr. Imbasciani says, “The careless tax proposal would reverse this progress and exacerbate California’s housing crisis. We owe our former service members better than that."