LOS ANGELES — California approved a package of tax incentives Tuesday for the purchase of homes, as it seeks to create more than 500,000 jobs, with the hope of boosting the state’s economy.
The plan would boost the state economy by $4 billion and create 2.5 million jobs, said Assemblyman Tom Ammiano, D-Los Angeles.
Assemblyman Tom Hammerschmidt, R-Riverside, said the plan would help boost the economy.
“The most important thing for California is that we create jobs and create more jobs,” he said.
Ammiano said the tax incentives are meant to create jobs by helping homeowners and companies.
California has a median household income of $80,000, and the average house price is $200,000.
In California, the median income is $64,000 and the median home price is about $240,000 in 2018.
The state’s median income for 2018 is $80.2 million and the statewide median household is $81,000 with median household incomes in the highest and lowest categories of the same.