US Housing Crisis Fuels Hope for a Bipartisan Tax Bill
October 13, 2023 by The article discusses the Affordable Housing Credit Improvement Act (AHCIA), which aims to strengthen the Low-Income Housing Tax Credit (LIHTC) to address the US housing crisis. Despite a divided Congress, the bill has garnered strong bipartisan support with over a third of Congress backing it. LIHTC has financed the development of 3.7 million affordable rental homes since 1996, but rising construction costs and inflation have reduced its impact. The AHCIA proposes extending and expanding the credit, potentially funding 1.9 million new homes over the next decade. However, the bill’s passage depends on it being included in a larger tax reform package before the end of the year.