A bipartisan duo is reintroducing a popular measure this week that would expand the low-income housing tax credit with an eye toward including it in Republicans’ budget reconciliation package.
Senate Finance members Todd Young, R-Ind., and Maria Cantwell, D-Wash., are planning to reintroduce a bill that would boost and increase the flexibility of the low-income housing tax credit. The tax credit has long enjoyed bipartisan support and is Congress’ main policy tool for addressing the country’s housing shortage.
The draft bill, shared with CQ Roll Call, would aid the construction of up to 1.6 million affordable homes over a decade by increasing the total tax credits allocated to states and easing some public financing requirements to make it easier for housing developments to qualify. Young is pushing for key provisions of the measure to be included in Republicans’ budget reconciliation package.
