Enterprise CEO Urges Congress to Continue Investing in Affordable Housing

As lawmakers consider FY 2019 appropriations bills, Enterprise CEO Terri Ludwig urges Congress to continue supporting affordable housing programs as it did in the FY 2018 omnibus package passed in March. In an op-ed in The Hill, Ludwig notes that there are currently 18 million housing insecure households, meaning that they pay more than 50 percent of their income on housing, leaving too little for other necessities like healthcare, transportation and healthy food. Programs like the Section 4 Capacity Building Program, which has created or preserved 61,000 affordable homes and 112,000 jobs over the last seven years, and the HOME Investment Partnerships Program, which has created more than 1.2 million affordable homes and provided rental assistance for more than 320,000 families since the 1980s, are critical for connecting families to opportunity. Ludwig also notes that the Tax Cuts and Jobs Act of 2017 has had the unintended consequence of reducing the value of the Low-Income Housing Tax Credit (Housing Credit), our nation’s primary tool for developing and preserving affordable rental housing. By investing in these critical programs, Congress will enable people to “spend more on other necessities, funneling money into local economies, creating jobs and benefitting us as a nation.”

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