Tax Reform Act of 2014

Below are links to information on the comprehensive tax reform discussion draft, the Tax Reform Act of 2014, released on February 26, 2014 by House Ways and Means Chairman Dave Camp (R-Mich.)

The draft, which preserves the Housing Credit, is the likely starting point for when Congress next takes up comprehensive tax reform.  The draft proposes a number of modifications to the Housing Credit that are concerning to AHTCC, including eliminating the 4 percent Housing Credit, extending the credit period from 10 to 15 years and eliminating private activity bonds. AHTCC continues to engage with Congress to preserve and strengthen the Housing Credit.

Overview

Section-by-Section Summary

Chairman Camp’s Next Steps Memo

Joint Committee on Taxation Report to the House Ways and Means Committee on Present Law and Suggestions for Reform Submitted to Tax Reform Working Groups

Senate Finance Committee Tax Reform Options Paper on Community and Economic Development

Video statements in support of the Housing Credit from Rep. Tiberi and Rep. Paulsen from the House Ways and Means Hearing on Tax Reform and Residential Real Estate

Ways and Means Republican Letter to Chairman Ryan Calling for Tax Reform