Today the White House is beginning to roll out major components of the initial plan for Build Back Better reconciliation legislation, with the goal of making significant progress on the bill this week. While the proposal is not yet final and some areas of the legislation remain in flux – including the portions related to tax – the initial framework and bill text does not specifically include Housing Credit investment.
While the framework does provide $150 billion for housing programs, the Housing Credit is being considered separately with other tax components of the bill that can still be added prior to a vote on the bill. It is essential that today all affordable housing stakeholders urge Democratic members of Congress to contact White House and congressional leadership to include Housing Credit production proposals in the final legislation.
The Path Forward for Housing Credit Advocacy
Housing Credit production proposals are still under consideration for inclusion in the Build Back Better reconciliation bill, though not affirmatively included at this time. It still remains to be determined how much funding will be available for various tax priorities, including the Housing Credit. That is why we must continue to keep up pressure on the White House, as well congressional leadership, to ensure our voices are heard and Housing Credit investment is included in the final bill.
If there are any members of Congress who you have been engaging with, now is the time to reach back out to them and make sure they call the White House, including the National Economic Council, and congressional leadership. It is imperative to maintain contact with congressional offices to let them know the importance of including the Housing Credit in the tax component of the bill. If you have not yet reached out to congressional offices, now is the time. The inclusion of Housing Credit production proposals will be necessary to ensure that we can address the shortage of affordable rental housing.
Please contact Megan John to access our advocacy resources, including an email template, talking points, and contact information.
Build Back Better Includes $150 Billion for Affordable Housing Spending Programs
The general Build Back Better framework proposes $150 billion for affordable housing programs under the jurisdiction of the House Financial Services Committee, including:
- $65 billion for public housing,
- $25 billion for tenant-based vouchers, including $1 billion for project-based rental assistance,
- $15 billion for the National Housing Trust Fund, and
- $10 billion for the HOME Investment Partnerships Program.
Highlight the Housing Credit on Social Media
The AHTCC has developed social media graphics that can be shared in support of the Housing Credit proposals advanced by the Ways and Means Committee. Download the graphics by clicking the images below, and find sample tweets in this document. Consider tagging members of Congress you have been engaging or @POTUS @SenSchumer or @SpeakerPelosi.