The Affordable Housing Tax Credit Coalition The Affordable Housing Tax Credit Coalition
  • ABOUT
    • About the AHTCC
    • AHTCC Leadership
    • AHTCC Members
    • Contact Us
  • HOUSING CREDIT
    • About the Housing Credit
    • How It Works
    • Impact
      • Native Americans
      • Veterans
    • Resident Stories
    • Finding Housing
  • ADVOCACY
    • Advocate Today
    • AHCIA of 2021
    • Regulatory Issues
    • AHTCC Priorities
  • GALLERY
  • EVENTS
  • AWARDS
    • Charles L. Edson Tax Credit Excellence Awards
    • Affordable Housing Champion Award
    • David Reznick Lifetime Achievement Award
  • NEWS
  • JOIN
The Affordable Housing Tax Credit Coalition The Affordable Housing Tax Credit Coalition
  • ABOUT
    • About the AHTCC
    • AHTCC Leadership
    • AHTCC Members
    • Contact Us
  • HOUSING CREDIT
    • About the Housing Credit
    • How It Works
    • Impact
      • Native Americans
      • Veterans
    • Resident Stories
    • Finding Housing
  • ADVOCACY
    • Advocate Today
    • AHCIA of 2021
    • Regulatory Issues
    • AHTCC Priorities
  • GALLERY
  • EVENTS
  • AWARDS
    • Charles L. Edson Tax Credit Excellence Awards
    • Affordable Housing Champion Award
    • David Reznick Lifetime Achievement Award
  • NEWS
  • JOIN
Jul 31

Over 100 House Members Sign Letter in Support of Affordable Housing Priorities in Next COVID-19 Relief Bill

  • July 31, 2020
  • 2020 News, AHTCC Organizational Update, COVID-19 Response, Housing Credit

Spearheaded by Reps. Suzan DelBene (D-WA) and Jackie Walorski (R-IN), a bipartisan group of 103 House members today urged Congressional leaders to include measures in an upcoming pandemic relief bill that would ensure affordable housing development during the COVID-19 crisis. See the announcement from Rep. DelBene below and see the AHTCC’s press release here.

Thank you to all AHTCC members who helped to secure the support of Representatives across the country and build bipartisan momentum as Congress negotiates the next COVID-19 response legislation.


Bipartisan Group of 103 Lawmakers Urges House Leadership to Prioritize Affordable Housing in Next COVID-19 Bill

Press Release from Congresswoman Suzan DelBene
Washington, D.C., July 31, 2020

Today, Representatives Suzan DelBene (WA-01) and Jackie Walorski (IN-02) led a bipartisan effort calling on House leadership to prioritize affordable housing measures in the next COVID-19 package. In a letter, 103 lawmakers urged enhancements to the Low-Income Housing Tax Credit (Housing Credit) be included in the next COVID-19 bill to support affordable housing production and address disruptions caused by the current public health and economic crisis. The Housing Credit has been a proven tool to expand affordable housing for over 30 years and will be essential in the recovery from this pandemic.

The COVID-19 pandemic has only made the existing affordable housing crisis worse. Before the public health emergency, 11 million American households were already paying more than half of their income toward rent. Now, over 54 million Americans have filed for unemployment since the outbreak began, putting their ability to pay for housing at significant risk.

The letter calls on four specific provisions to be included to increase affordable housing production:

  • Increase the annual Housing Credit allocation by at least 50 percent. This would finance hundreds of thousands of much-needed affordable homes for low-income households.
  • Enact a minimum 4 percent Housing Credit rate.The Housing Credit is tied to federal borrowing rates. Borrowing rates were slashed in response to the pandemic, forcing a dramatic hit to the Housing Credit rate. This puts thousands of housing development projects at risk of being financially insolvent nationwide.
  • Lower the “50 percent test.” Increased development costs resulting from the pandemic are jeopardizing the financial viability of many projects. Lowering the 50 percent test would provide project flexibility during this uncertain time.
  • Allow housing developments to access additional equity. These boosts will help at-risk developments move forward in difficult to serve rural areas.

“This pandemic has only exacerbated the affordable housing crisis our country was already facing. We cannot ignore this crucial area of our economy, and more importantly the working families, veterans, seniors, and low-income families who will be able to afford their homes during this time and in the years ahead because of the Housing Credit. We will continue to be focused on communicating the developing needs of this community during all stages of this recovery process,” lawmakers wrote.

Several of these policies are included in the Affordable Housing Credit Improvement Act (H.R. 3077), bipartisan legislation sponsored by DelBene and Walorski that gained the support of more than half of the House of Representatives and nearly half of the Senate before the pandemic.

“The COVID-19 crisis has reminded us of the importance of a safe, stable home. These broadly-supported, bipartisan proposals to strengthen the Low-Income Housing Tax Credit will help us keep affordable housing production moving to meet the vast and growing need,” said Emily Cadik, Executive Director of the Affordable Housing Tax Credit Coalition. “We thank Congresswomen DelBene and Walorski for their leadership on affordable housing at a time when it is needed more than ever.”

“Lower-income renters are more likely than anyone else to serve in America’s essential workforce, yet they face mounting housing hardships,” said Stockton Williams, Executive Director of the National Council of State Housing Agencies and Co-chair of the ACTION Campaign. “Congress can help many who need it in every state by expanding the Housing Credit as Representatives DelBene and Walorski have proposed and many members in both parties support.”

The letter was signed by Representatives Don Bacon (NE-02), James R. Baird (IN-04), Troy Balderson (OH-12), Joyce Beatty (OH-03), Jack Bergman (MI-01), Donald S. Beyer, Jr. (VA-08), Earl Blumenauer (OR-03), Lisa Blunt Rochester (DE-At-large), Suzanne Bonamici (OR-01), Susan W. Brooks (IN-05), Julia Brownley (CA-26), Larry Bucshon, M.D. (IN-08), Ted Budd (NC-03), Cheri Bustos (IL-17), André Carson (IN-07), Judy Chu (CA-27), David N. Cicilline (RI-01), Katherine Clark (MA-05), Paul Cook (CA-08), Joe Courtney (CT-02), Henry Cuellar (TX-28), Joe Cunningham (SC-01), Rodney Davis (IL-13), Danny K. Davis (IL-07), Rosa L. DeLauro (CT-03), Val Butler Demings (FL-10), Lloyd Doggett (TX-35), Adriano Espaillat (NY-13), Dwight Evans (PA-03), Brian Fitzpatrick (PA-01), Jeff Fortenberry (NE-01), Bill Foster (IL-11), Jesús G. “Chuy” García (IL-04), Bob Gibbs (OH-07), Jimmy Gomez (CA-34), Anthony Gonzalez (OH-16), Raul Grijalva (AZ-03), Jim Hagedorn (MN-01), Jahana Hayes (CT-05), George Holding (NC-02), Eleanor Holmes Norton (DC-At-large), Richard Hudson (NC-08), Bill Johnson (OH-06), Dusty Johnson (SD-At-large), David P. Joyce (OH-14), John Joyce, M.D. (PA-13), John Katko (NY-24), Mike Kelly (PA-16), Daniel T. Kildee (MI-05), Derek Kilmer (WA-06), Ron Kind (WI-03), Adam Kinzinger (IL-16), Darin LaHood (IL-18), Doug LaMalfa (CA-01), James R. Langevin (RI-02), John B. Larson (CT-01), Al Lawson (FL-05), Barbara Lee (CA-13), Elaine G. Lurui (VA-02), Stephen F. Lynch (MA-08), Kenny Marchant (TX-24), James P. McGovern (MA-02),Cathy McMorris Rodgers (WA-05), Carol D. Miller (WV-03), Stephanie Murphy (FL-07), Jimmy Panetta (CA-20), Chris Pappas (NH-01), Bill Pascrell (NJ-09), Scott H. Peters (CA-52), David Price (NC-04), Mike Quigley (IL-05), Jamie Raskin (MD-08), Guy Reschenthaler (PA-14), David P. Roe, M.D. (TN-01), John Rose (TN-06), Harley Rouda (CA-48), Tim Ryan (OH-13), Michael F.Q. San Nicolas (GU-At-large), Linda Sanchez (CA-38), Mary Gay Scanlon (PA-05), Jan Schakowski (IL-09), Bradley S. Schneider (IL-10), David Schweikert (AZ-06), Terri A. Sewell (AL-07), John Shimkus (IL-15), Jason Smith (MO-08), Adam Smith (WA-09), Abigail D. Spanberger (VA-07), Pete Stauber (MN-08), Elise M. Stefanik (NY-21), Steve Stivers (OH-15), Thomas R. Suozzi (NY-03), Xochitl Torres Small (NM-02), Lori Trahan (MA-03), Michael R. Turner (OH-10), Tim Walberg (MI-07), Peter Welch (VT-At-large), Brad R. Wenstrup, D.P.M. (OH-02), Roger Williams (TX-25), Don Young (AK-At-large), and Lee Zeldin (NY-01).

A copy of the letter can be found here.

  • Facebook
  • Twitter
  • Tumblr
  • Pinterest
  • Google+
  • LinkedIn
  • E-Mail

Comments are closed.

NEWS BY TOPIC

  • Advocacy Resources
  • Affordable Housing Credit Improvement Act (AHCIA)
  • AHTCC Meetings and Events
  • AHTCC Organizational Update
  • Build Back Better
  • Charles L. Edson Tax Credit Excellence Awards
  • Community Reinvestment Act (CRA)
  • COVID-19 Response
  • Housing Credit
  • News by Year
    • 2014 News
    • 2015 News
    • 2016 News
    • 2017 News
    • 2018 News
    • 2019 News
    • 2020 News
    • 2021 News
    • 2022 News
    • 2023 News
  • Regulatory Issues

The Affordable Housing Tax Credit Coalition is a trade organization of housing professionals who advocate in support of the Low-Income Housing Tax Credit

LATEST NEWS FROM AHTCC

  • White House Fiscal Year 2024 Budget Proposal Calls for Additional $28 Billion Investment in Housing Credit, Including Enactment of AHTCC’s Top Production Priorities
  • Housing Credit Raised as Primary Focus in Senate Finance Committee Hearing

AHTCC ON TWITTER

Retweet on Twitter AHTCC Retweeted
23 Mar 1638906443658301443

Looking forward to sharing #housing industry insight alongside @EmilyCadik, Bryan Greene of @nardotrealtor, and Steve O’Connor of @MBAMortgage on Monday, March 27 @NCSHAhome #LegCon23.

Register ...now to join us: https://www.ncsha.org/event/2023-legislative-conference/

Load More...

CONTACT

1900 M Street NW, 3rd Floor
Washington, DC 20036
202-935-0977
info@taxcreditcoalition.org

JOIN AHTCC

FIND HOUSING

© 2020 The Affordable Housing Tax Credit Coalition