The Affordable Housing Tax Credit Coalition applauds Senators Cantwell (D-WA) and Roberts (R-KS) and Representatives Tiberi (R-OH) and Neal (D-MA) for their leadership in helping to secure bipartisan support for a permanent extension of the 9 percent Low-Income Housing Tax Credit (Housing Credit) rate in the final tax extenders package, Protecting Americans from Tax Hikes Act of 2015.
This critical provision will simplify financing for new construction and substantial rehabilitation of affordable housing, increasing predictability and flexibility for states to finance high-priority developments at a time when affordable housing demand is growing and supply is shrinking nationwide.
Since it was signed into law in 1986, the Housing Credit has financed 2.8 million affordable homes and supported more than 3 million jobs, bringing $100 billion in investment into communities across the country.
We look forward to continuing to work with Senators Cantwell and Roberts, Representatives Tiberi and Neal, and others in Congress to ensure the passage of the final tax extenders package in the coming days.
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