While this year’s tax legislation—the Tax Relief for American Families and Workers Act (H.R. 7024), including two provisions to expand Housing Credit production and preservation—remains stalled in the Senate, House tax writers have already commenced work to prepare for what is expected to be a much more significant tax package next year in advance of much of the 2017 Tax Cuts and Jobs Act (TCJA) expiring. Today, House Ways and Means Chairman Jason Smith (R-MO-08) announced the establishment of ten tax teams, each comprised of Republican members of the Committee, that will begin to consider how to address the expiration of numerous aspects of the current tax system put in place under former President Trump. Because Congress passed the TCJA using a special budget procedure (reconciliation) to bypass the Senate filibuster rules, most tax provisions the legislation put in place had to be temporary in nature to control costs and will revert to previous law after 2025 unless Congress acts.
One of the tax teams will cover all community development issues, including affordable housing. The community development team, chaired by Rep. Mike Kelly (R-PA-16), has as members Reps. Claudia Tenney (R-NY-24), Darin LaHood (R-IL-16), Blake Moore (R-UT-01), and Mike Carey (R-OH-15). LaHood and Tenney are lead sponsors of the Affordable Housing Credit Improvement Act (H.R. 3238) and the other members of the team are all cosponsors. The ACTION Campaign will work closely with all five members of the team as they consider affordable housing-related recommendations for the legislation next year. The other Republican tax teams will consider American manufacturing, working families, American workforce, Main Street, new economy, rural America, supply chains, U.S. innovation, and global competitiveness.
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