Today, President-elect Joe Biden was sworn into office, becoming the 46th president of the United States. The ACTION Campaign congratulates President Biden on his inauguration and looks forward to working with the administration to strengthen and expand the Housing Credit.
In December, ACTION sent a memo to the Biden-Harris agency transition teams at Treasury, HUD, and the Department of Agriculture, highlighting legislative and regulatory actions to increase the supply of affordable housing through the Housing Credit. The Biden-Harris team detailed its support for the expansion of the Housing Credit in their February 2020 housing platform, “The Biden Plan for Investing in Our Communities Through Housing,” which would expand the Housing Credit authority by $10 billion, ensuring “urban, suburban, and rural areas all benefit from the credit.”
Coming off of a strong win at the end of 2020 with the enactment of the permanent, minimum 4 percent Housing Credit rate, the ACTION Campaign is eager and ready to build upon this momentum alongside the new administration to strengthen and expand the Housing Credit in the 117th Congress.