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A “no” vote opposes authorizing the state to issue $11.25 billion in bonds to fund income-qualified housing programs, such as the Multifamily Housing Program, the CalHome Program, and the Joe Serna, Jr. Farmworker Housing Grant Program, and the veteran home loan program.
State Asm. David Tangipa (R-8):
“We have a record budget and record revenue. Why do we need to borrow money? If we wanted to appropriate money right now to take care of our veterans, to make affordable housing, you would do so in a record budget. … How many more bonds do we need to realize that this is a bad deal? We don’t have an affordable housing crisis. We have an available housing crisis because of the rules, regulations and debt that we are putting on the California citizens.”
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