Affordable Housing Credit Improvement Act Update
ACTION is continuing to work closely with congressional champions in the House and the Senate to finalize the bill text, secure Republican lead sponsors, and reintroduce the Affordable Housing Credit Improvement Act to strengthen and expand the Housing Credit. ACTION will send out a notice as soon as the bill is re-introduced. We will also circulate an organizational sign-on letter so that we can once again demonstrate broad support for the legislation. Ensuring strong bipartisan support of this legislation is critical as Congress considers potential legislative packages that may serve as a vehicle to advance Housing Credit provisions. Stay tuned to our blog for updates on the Housing Credit and opportunities to strengthen and expand the program.
House Committee Members Highlight Why Affordable Housing Should be Included in an Infrastructure Package
On March 6 the House Ways and Means Committee held a hearing entitled “Our Nation’s Crumbling Infrastructure and the Need for Immediate Action.” Chairman Richard Neal (D-MA), long-time affordable housing and community development champion, stated in his opening remarks that “we must reinvest in our urban and rural communities through successful programs like the Low-Income Housing Tax Credit and New Markets Tax Credit.” Representative Don Beyer (D-VA) also emphasized the importance of affordable housing, stating that the working men and women of America “not only have to get to work but also have stable and reliable homes that are a reasonable distance from work.” The ACTION Campaign submitted a statement for the record in response to the hearing thanking the Chairman and other Committee members for support of the Housing Credit and the multifamily Housing Bond program, and to express upon the Committee that affordable housing is a critical part of a country’s infrastructure, as much as roads and public utilities. The ACTION letter urged the Committee to ensure that any infrastructure bill includes a housing title that makes central the proposals likely to be included in the Affordable Housing Credit Improvement Act upon its reintroduction.