Recent op-eds in Kentucky and Pennsylvania highlight the positive impact that the Housing Credit has on communities across the country, presenting compelling evidence to support the Affordable Housing Credit Improvement Act (S. 548), introduced by Senators Cantwell and Hatch earlier this year.
Cathe Dykstra, Chief Possibility Officer, President and CEO of Family Scholar House in Kentucky, wrote in Louisville’s Courier-Journal that the Housing Credit has financed 34,000 affordable homes and generated $3.66 billion in Kentucky over the past 30 years, but there are still over 140,000 households in the state spending more than half their income on rent. She says that the state’s low-income families will not be able to succeed unless there is a significant investment in affordable homes. Dykstra calls on lawmakers to pass S. 548, which would support the development of an additional 12,315 affordable homes and nearly 14,000 jobs in the state.
Phyliss Chamberlain, executive director of the Housing Alliance of Pennsylvania, also wrote about the tremendous impact of the Housing Credit and the affordable housing shortage in her state in The Philadelphia Enquirer. Considering that every dollar of federal tax credits issued has been generating roughly 10 times that amount of investment, Chamberlain argues that expanding the Housing Credit would go a long way towards addressing the state’s immense housing needs, allowing for the development or preservation of an estimated 1,000 additional affordable homes in Pennsylvania than would otherwise be possible.