The Affordable Housing Tax Credit Coalition (AHTCC) applauds Senators Todd Young (R-IN), Maria Cantwell (D-WA), Angus King (I-ME), Dean Heller (R-NV), Tim Kaine (D-VA), Doug Jones (D-AL), Cory Gardner (R-CO), Marco Rubio (R-FL), and Chris Coons (D-DE) for their leadership in introducing legislation to create an affordable housing task force. On behalf of over 150 businesses and organizations, we appreciate this bipartisan recognition of the need to address our affordable housing challenges.
The introduction of the Task Force on the Impact of the Affordable Housing Crisis Act (S. 3231) is an important step towards better understanding the impacts of our nation’s affordable housing crisis and developing bipartisan solutions to address it. More than 11 million households spend more than half of their income on rent, and a growing body of data underscores the impacts that this level of severe rental cost burden has on families, our economy and communities. The affordable housing task force proposed by this legislation would allow us to better quantify our affordability challenges and their impacts, and help us identify potential solutions.
We also encourage Congress to consider the role that the Low-Income Housing Tax Credit (Housing Credit) has already played in helping to address our nation’s shortage of affordable housing, and the importance of expanding and strengthening the Housing Credit as part of any solution. The Affordable Housing Credit Improvement Act (S. 548, H.R. 1661) provides an immediately actionable solution that we encourage Congress to enact while continuing to analyze the scope of the crisis.