NLIHC has released a new fact sheet explaining the need for targeted reforms to the Low-Income Housing Tax Credit (LIHTC) program and a call-to-action tool to help advocates ask their members of Congress to include these reforms in an end-of-year tax extenders package. Congress regularly passes tax extender bills to reauthorize tax provisions, and many housing advocates are pushing both for the expansion of and reforms to LIHTC in this year’s package. NLIHC continues to advocate for a range of needed changes to LIHTC, and the new fact sheet summarizes those three provisions most needed to ensure that LIHTC serves extremely low-income households.
LIHTC is the primary source of financing for the construction and preservation of affordable housing. While an important resource, LIHTC on its own is generally insufficient to support the construction and preservation of homes affordable to households with the lowest incomes. Congress now has the opportunity to improve LIHTC via the tax extenders package by pairing any expansion of LIHTC with key reforms, such as those included in the “Build Back Better Act” enacted by the U.S. House of Representatives and the bipartisan “Affordable Housing Credit Improvement Act,” to ensure that the tax credit program better serves people experiencing or at risk of homelessness. NLIHC urges advocates to contact their members of Congress to urge them to include these LIHTC reforms in any tax extender package moving forward.
Read the fact sheet at: https://bit.ly/3gDnV9o
Find the new call-to-action tool at: https://p2a.co/4qstqc5
Read about NLIHC’s other policy priorities in the Fall and Winter 2022 Advocacy Toolkit.