Housing – Bill Introduced to Expand Low Income Housing Tax Credit

Last week, Senators Maria Cantwell (D-WA), Orrin Hatch (R-UT), Charles Schumer (D-NY), and Ron Wyden (D-OR) introduced the “Affordable Housing Credit Improvement Act” (S. 2962). The bill would expand the Low Income Housing Tax Credit (LIHTC) program by 50 percent, allowing the program to create or preserve approximately 1.3 million affordable homes over 10 years, or 400,000 more units than under the current program. The LIHTC program provides much-needed funding for construction and preservation of affordable housing across the United States.

%d bloggers like this: