Last week, the ACTION Campaign sent a letter to Congress on behalf of over 2,000 organizations and businesses in support of the Affordable Housing Credit Improvement Act (H.R. 1661), bipartisan legislation introduced in March by Representative Pat Tiberi (R-OH-12) and House Ways and Means Committee Ranking Member Richard Neal (D-MA-1) to strengthen the Low-Income Housing Tax Credit (Housing Credit). The Tiberi-Neal bill is companion legislation to the Housing Credit legislation introduced by Senator Cantwell (D-WA) and Senate Finance Committee Chairman Orrin Hatch (R-UT) earlier in March (S. 548). While the House bill does not include the provision to authorize a 50 percent cap increase on Housing Credit allocation authority that is in the Senate version, the House bill does include the nearly two dozen other provisions in the Cantwell-Hatch bill that are intended to strengthen the Housing Credit.
This strong demonstration of support for the Housing Credit comes at a critical time as tax reform tops the legislative agenda. House Ways and Means Committee Republicans are continuing to work to translate their tax reform blueprint into legislation, and Chairman Kevin Brady (R-TX-8) has indicated that he plans to hold a series of tax reform hearings this spring. The White House has also signaled that it will be heavily involved in tax reform negotiations. While there is still much uncertainty around key elements of tax reform – including the destination-based tax system known as “border adjustment” – there will likely be concerted efforts to build consensus in the coming months. Visit the ACTION Campaign website for more information on how to support the Housing Credit as Congress considers tax reform.