Congress Shows Significant Support for Strengthening the Housing Credit

Over one-third of the House has signed on to support the Affordable Housing Credit Improvement Act (H.R. 1661), bipartisan legislation that would make significant strides towards addressing our nation’s severe shortage of affordable rental housing by strengthening the Low-Income Housing Tax Credit (Housing Credit). In addition to the 146 co-sponsors on the House version of the legislation (H.R. 1661), there are 38 co-sponsors on the Senate version of the bill (S. 548). This tremendous support comes after March’s omnibus spending bill included a significant down payment on Housing Credit resources by enacting a temporary expansion of the program and the new option for income averaging. However, this increase does not fully make up for the decreased production resulting from the Tax Cuts and Jobs Act, so continued advocacy to advance the remaining provisions of the Affordable Housing Credit Improvement Act is critical. For more information about the Affordable Housing Credit Improvement Act, including talking points and advocacy resources, visit the ACTION campaign website.

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