HI HR187

Urges the President and U.S. Congress to increase federal funding for Hawaii housing initiatives to offset adverse effects of the Tax Cuts and Jobs Act of 2017 on Hawaii residents.

Notes that Hawaii's housing costs are 103.3 percent higher than the national average, with a median home price of $772,000 compared to the national median of $241,700, and faces a shortage of 65,000 housing units.

Identifies that the Tax Cuts and Jobs Act of 2017 reduces the mortgage interest deduction cap from $1,000,000 to $750,000 and eliminates tax deductions for home equity loan interest, disproportionately affecting Hawaii residents due to the state's high property values.

Requests that the President and Congress direct the U.S. Department of Housing and Urban Development to increase funding levels to Hawaii programs regardless of potential budget cuts to that department.

Directs transmission of certified copies to the President, Vice President, Congressional leaders, Hawaii's congressional delegation, HUD Secretary, Hawaii Governor, and Hawaii Public Housing Authority.