In the above video, Senator Maria Cantwell (D-WA) asks David Kautter, nominee for Treasury Assistant Secretary of Tax Policy, about affordable housing and the Low Income Housing Tax Credit (Housing Credit) during Kautter’s Finance Committee nomination hearing on Tuesday, July 18, 2017.
Kautter responds that he has not spent a lot of time on the Housing Credit, but thinks it works pretty well, suggesting that he’ll explore if it can be made even more efficient and effective. Senator Cantwell notes a growing national affordable housing crisis, highlighting the Housing Credit as a vital tool for addressing it. Cantwell adds that the Housing Credit drives 90 percent of affordable housing supply and we can’t increase the supply without expanding the Housing Credit, asking Kautter if it’s worth increasing capital going to affordable housing, while noting that merely the discussion of tax reform had reduced production because investors are sitting on their capital. Kautter again mentions that the Housing Credit could be looked at, and if confirmed he would look forward to working with Senator Cantwell to make it even more effective and efficient.