LifeSTEPS Supports Housing Credit Provisions in Build Back Better Act

Please join us in signing onto ACTION Campaign’s letter asking the White House and Congressional leadership to include Housing Credit provisions and affordable housing funding in the Build Back Better Act. Affordable housing improves both physical and mental health outcomes, stabilizes neighborhoods, helps seniors to live independently and age-in-place, and generates economic growth.

The current Housing Credit production provisions in the House Ways and Means Committee-passed Build Back Better Act would provide an additional 1.4 million affordable homes and house an estimated 3.2 million low-income people and people experiencing homelessness. These proposals include increasing the annual Housing Credit allocation by more than 50 percent, lowering the bond financing threshold to 25 percent to unlock additional Housing Credit resources, and allowing more Housing Credit equity to make feasible properties in rural and Native communities and for extremely low-income tenants. These provisions would address the severe oversubscription of the Housing Credit program, enabling a pipeline of developments to quickly get underway in delivering affordable homes.

#HousingCredit #reconciliationbill #housingmatters #residentservices