2,000 Organizations and Businesses Urge Support for Low-Income Housing Tax

(RECAP: 2,000 organizations and businesses are calling on the incoming Congress and Administration to prioritize the Low-Income Housing Tax Credit (Housing Credit) as they consider reforms to the nation’s tax code and investments in the nation’s infrastructure. The letter submitted on behalf of the ACTION Campaign urges policymakers to: 1) ensure that the Housing Credit and Housing Bonds are held up as positive examples of the power of the tax code to improve communities by maintaining their viability under tax reform; and 2) expand and strengthen the Housing Credit to increase the availability of safe and affordable housing and revitalize local economies. The House is currently working to draft comprehensive tax reform legislation based on the principles outlined in Speaker Paul Ryan’s tax reform blueprint, released this summer. The blueprint indicates that the majority of corporate tax expenditures may be eliminated in order to reduce corporate rates, and was silent on the Housing Credit and Housing Bonds.)