House Tax Cuts and Jobs Act affects senior living | Letter

House Tax Cuts and Jobs Act affects senior living | Letter

Last week, the House Ways and Means Committee unveiled its proposed tax bill, H.R.1, which, among other things, eliminates tax-exempt financing for not-for-profit organizations. It also eliminates the medical expense tax deduction for seniors living in communities like ours and for hundreds of thousands of others who are sick and in need of health care. Because of the severe and disruptive impact H.R.1 creates for not-for-profit senior living organizations, our staff and residents of Emerald Communities are strongly opposed to this radical proposal.

Eliminating the medical expense tax deduction for families and seniors who face significant health care expenses means they will have less to spend on necessary household, health care and essential daily living items.

Eliminating tax-exempt financing will severely restrict access to capital needed to develop senior living communities when aging baby boomers’ demand for health care and housing are increasing exponentially. Restricting access to capital will likely limit consumer choice for many in the senior living market as the development costs climb making this product unavailable to middle income markets. Low income seniors will also be harmed under H.R.1 if the 4 percent low-income housing tax credit is eliminated making it unattractive to investors to build affordable senior housing. Our homeless senior population will grow.

To protect families, seniors and promote choice and access to senior living and care delivery options, we urge Congress to:

• Maintain tax-exempt financings for 501(c)(3) organizations

• Maintain the exemption for multifamily housing bonds and the 4 percent low-income housing

tax credit

• Maintain the medical expense deduction

• Maintain the charitable deduction

If H.R.1 were to pass, the impact would be detrimental to seniors and the not-for-profit senior living industry whose mission it is to serve them, as well as other charitable endeavors. To reach out to lawmakers to let your voice be heard, call (855) 837-6894.

Lisa A. Hardy

President and chief executive officer of Emerald Communities, which features Redmond’s Emerald Heights

More in Letters to the Editor

Keep funding public education | Letter

A response to Michelle Darnell’s “Don’t ban guns, ban government schools” letter.

Public engages on Sears redevelopment plan | Letter

An informational community meeting regarding Overlake’s Sears site (Heritage Park, to be… Continue reading

Parent disagrees with letter writer’s gun/schools conclusion | Letter

As one parent among the millions of parents who have sent children… Continue reading

Emerald Heights residents deserve dignity, good health care and quality of life | Letter

We’ve heard a lot recently in the Redmond Reporter about the proposed… Continue reading

Not convinced that guns/schools letter wasn’t written in parody | Letter

It wasn’t long ago that I could read an article from the… Continue reading

Dissecting letter on guns/schools | Letter

Michelle Darnell’s recent letter (“Don’t ban guns, ban government schools”) was unfortunate… Continue reading

Don’t ban guns, ban government schools | Letter to the editor

Public schools have become impersonal, sterile and monolithic — like most government institutions.

Redmond Parks should show that tree cutting is needed for public safety | Letter

Redmond Parks is planning to cut down 31 cottonwood trees in Idylwood… Continue reading

‘Winter Whimsy’ was a hit with couple | Letter

Hats off and a big THANK YOU to Aegis Living and the… Continue reading

‘March for Our Lives’: Listen and fall in behind students | Letter

We are all trying to deal with the aftermath of the horrific… Continue reading

‘This is a very dark day for Washington’ | Letter

Rep. Larry Springer, Spinning the Legislature’s action today as “a major expansion… Continue reading

Joining the Emerald Heights discussion| Letter

A formerly elected Redmond city official has chosen to ask your readers… Continue reading