El ex-presidente ecuatoriano Rafael Correa difunde activamente retórica antiamericana y altera las instituciones democráticas de su país para su propio beneficio. Correa ha sido condenado por corrupción por parte de la Corte Nacional de Justicia de Ecuador. Los...
News
Latest News
English/ Español: Rubio, Risch, Colleagues: Rafael Correa Must Be Held Accountable for His Crimes
Former Ecuadorian President Rafael Correa actively spreads anti-American rhetoric and tampers with his homeland’s democratic institutions for his own benefit. Correa has been convicted of corruption by Ecuador’s National Court of Justice. U.S. Senators Marco Rubio...
Rubio Demands Answers on Decongestant Medication Efficacy
A U.S. Food and Drug Administration (FDA) advisory committee recently determined that phenylephrine, an ingredient commonly used to treat sinus and nasal congestion, is ineffective in treating these symptoms. This was apparent from research for years, yet large...
Rubio Habla en La Poderosa
El senador estadounidense Marco Rubio (R-FL) habló con César Grajales de La Poderosa 670 AM en El Panorama Político, sobre la crisis fronteriza, sobre cómo los hispanoamericanos se ven afectados con la realidad del país, sobre los cargos contra el senador Bob Menéndez...
Rubio, Colleagues Reintroduce Bill to Protect Rights of Pregnant Students
Pregnant students are sometimes discriminated against by their schools, either intentionally or unintentionally and there is a concerning lack of awareness about the resources and rights available to them. Due to a lack of services and discrimination, these women may...
Rubio, Colleagues Reintroduce Intelligence Community Workforce Agility Protection Act
Currently, intelligence community civilians are subject to certain tax penalties for job-related relocation requirements, but active-duty military servicemembers are not subjected to the same penalties. These tax benefits, including the ability to deduct moving...
Rubio Reintroduces Legislation to Increase Affordable Housing, Combat Illicit Foreign Investment in Urban Real Estate
Washington, D.C. — U.S. Senator Marco Rubio (R-FL) reintroduced the Home Advantage for American Families Act, which seeks to reduce foreign investment in the urban real estate market, much of which is connected to illicit activity, and instead increase investment in affordable housing. This bill stems from an increase in areas that are quickly becoming too expensive to live and the need to restore an equilibrium in housing markets for local residents who want to own a home and raise families. A one-pager of the bill is available here.
“Families in South Florida are struggling to find affordable housing as billions of dollars pour into local real estate, much of it connected to illicit foreign activity,” Rubio said. “To have a strong nation, we need strong communities, and to have strong communities we must have strong families. This bill would combat illicit finance in foreign real estate investment and increase affordable housing investment in South Florida, two important steps in tackling this problem.”
Specifically, the Home Advantage for American Families Act:
- Authorizes the Treasury Department to issue reports on behalf of the Financial Crimes Enforcement Network (FinCEN) for residential real estate transactions within the top fifteen Metropolitan Statistical Areas (MSAs) to identify the natural identities of foreign buyers.
- Increases the Foreign Investment in Real Property Act (FIRPTA) of 1980 withholding tax on residential real estate to 30% for both foreign corporations and foreign individuals.
- Provides an additional 10% of base-funding set-aside of the Low-Income Housing Tax Credit (LITHC) for single family home construction within Qualified Census Tracts (QCTs) to help states create more affordable housing opportunities that can accommodate a family.
Related:
- March 12, 2020: Rubio Introduces Bill to Increase Affordable Housing, Combat Illicit Foreign Investment in Urban Real Estate
- September 19, 2019: Rubio Secures Critical Funding for Florida in FY20 Appropriations Bills
- August 1, 2018: Rubio, Wyden, Whitehouse Amendment to Tackle Money Laundering Through High-End Real Estate Clears Senate