The Affordable Housing Credit Improvement Act (AHCIA) of 2023 (H.R.3238/S.1557) has reached a major milestone with one-third of Congress now expressing support for the bill – 151 Representatives and 28 Senators – balanced between Republicans and Democrats.
Between the House and Senate versions of the bill, the AHCIA has well over twice the number of supporters eleven weeks out from reintroduction than at this point in the last Congress, as shown in the charts below.
“With one-third of Congress supporting this bill on a bipartisan basis, the momentum behind this legislation is driven by a compelling show of support,” said AHTCC Chief Executive Officer Emily Cadik. “This demonstrates to members across the political spectrum that the AHCIA is a well-vetted, viable solution to address a problem that impacts states and districts across the country.”
“Past Congresses have taken major steps to address a national housing crisis that has only become more severe in recent years,” said Ryan Sfreddo, President of the AHTCC Board of Directors and CEO of Red Stone Equity Partners. “However, key provisions of the AHCIA that would have the greatest impact on affordable housing production are still in need of enactment, including an urgently needed increase to the Housing Credit allocation. It is time for Congress to allow thousands of shovel-ready developments to move forward.”
The AHTCC will be working to build on this momentum to further increase support for the AHCIA. As members head back to their districts for the August recess, we encourage all AHTCC members to demonstrate the Housing Credit’s impact by inviting your Representatives and Senators to visit properties.