NLIHC sent a letter on September 8 to Senate Finance Committee Chair Ron Wyden (D-OR) and House Ways and Means Committee Chair Richard Neal (D-MA) urging the congressional leaders to ensure the budget reconciliation package includes major investments in affordable housing targeted to the lowest-income households.
The letter calls on the chairmen to expand the basis boost for Low-Income Housing Tax Credit (LIHTC) developments in which at least 20% of units built or preserved are affordable to households with the lowest incomes. While LIHTC is an important source of affordable housing financing, the program rarely serves households with the lowest incomes who most acutely experience the national shortage of affordable housing. No state or congressional district in the country has enough deeply affordable homes to meet demand, and most of the shortage of affordable housing is concentrated among households with extremely low incomes. These households are disproportionately Black, Indigenous and people of color (BIPOC), and people with disabilities. Expanding the LIHTC basis boost for properties serving extremely low-income households will spur additional development of deeply affordable housing.
Read the letter at: https://tinyurl.com/y84fur64