Supporters of affordable housing are urging the Senate Finance Committee to advance tax policy that addresses the current housing crisis. According to the National Association of Realtors, the share of sales going to first-time homebuyers fell last year to the lowest level on record. Several committee members appeared on board with the need for legislative intervention. One proposed bipartisan bill, the Affordable Housing Credit Improvement Act, would expand the Low-Income Housing Tax Credit to create new homes nationwide. Another bill, the Decent, Affordable, Safe Housing for All (DASH) Act, would create a new down payment tax credit for first-time homebuyers. Stay tuned.
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