It’s no secret that many U.S. cities are experiencing affordable housing crises. A recent Congressional hearing considered several proposals to address the shortage of inexpensive rental units, including the Affordable Housing Credit Improvement Act. Sponsored by Senator Maria Cantwell (D-WA), the bill would enlarge the low-income housing tax credit (LIHTC), expand eligibility for it and increase building of affordable housing with private activity bonds. The bill is generally supported by low-income housing activists and many real estate industry groups. And several bipartisan groups that have studied the issue endorse expansion of the LIHTC.
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