{"database": "press", "table": "releases", "rows": [["https://clyburn.house.gov/clyburn-issues-new-staff-report-effects-of-the-aeoetax-cuts-and-jobs-actae%c2%9d-on-homeowners-in-south-carolina/", "Clyburn Issues New Staff Report: Effects of the \u00e2\u20ac\u0153Tax Cuts And Jobs Act\u00e2\u20ac\u009d on Homeowners in South Carolina", "2018-05-23", "2018", "2018-05", "Democrat", "House", "SC", "James E. Clyburn", "C000537", "clyburn.house.gov", "clyburn", "https://clyburn.house.gov/press-releases/", "scraper", "WASHINGTON, D.C. \u2013 U.S. House Assistant Democratic Leader James E. Clyburn (SC) today released a Democratic Staff Report on the specific effects of the new Republican tax law on homeowners in South Carolina.\n\nAccording to today\u2019s report compiled by the Democratic staff of the House Oversight and Government Reform Committee, \u201cthe new tax law imposes significant new financial penalties on American homeowners across the country, while essentially using the funds raised by these tax increases to help pay for lucrative new tax breaks for real estate developers.\u201d\n\nAccording to the report:\n\n\u201cThe fact of the matter is the Republican tax bill is a massive windfall for the wealthiest few at the expense of working people,\u201d Clyburn stated. \u201cThis new report clearly shows the Republican tax law is really a tax scam. It will harm many homeowners in South Carolina and make our affordable housing crisis exponentially worse.\u201d\n\n\u201cUnder the new tax law, homeowners are now prohibited from deducting interest on home equity loans if they use those funds for unexpected medical emergencies, to pay for college education, or for any purpose other than home improvement,\u201d the report states. Meanwhile, \u201creal estate developers are now allowed to take new deductions on pass-through income, pay dividends that are taxed at reduced rates, take advantage of an exemption from a provision that otherwise limits businesses from deducting interest, and utilize another exemption to avoid paying taxes on property exchanges.\u201d\n\n\u201cPresident Trump and Republicans in Congress made a clear choice last year when they enacted their tax bill,\u201d the report concludes. \u201cThey chose to take away longstanding tax deductions that American families have relied on for decades while at the same time creating new tax breaks on real estate developers. Although some may reap large financial windfalls as a result of the changes in the new tax law, many American families will be penalized despite their ongoing efforts to faithfully invest in their single biggest asset\u2014their home.\u201d", 1, "2026-03-30T01:40:41Z", "2026-06-27T22:57:05Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://clyburn.house.gov/clyburn-issues-new-staff-report-effects-of-the-aeoetax-cuts-and-jobs-actae%c2%9d-on-homeowners-in-south-carolina/"], "units": {}, "query_ms": 0.8076289668679237, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}