Nearly 75 percent of voters are in favor of keeping the Housing Credit in tax reform, the most support of any corporate tax deduction or credit, according to a new poll from Harvard’s Center for American Political Studies (CAPS) and Harris Insights & Analytics.
While the parameters of tax legislation may not be finalized for several months, a recent blog post from Novogradac & Company outlines the potential impacts of a lower corporate tax rate on the Housing Credit. Novogradac recommends adjustments to ensure that Housing Credit production is not reduced in tax reform, at a time when the supply of affordable homes already can’t keep pace with rising demand, including increasing the total Housing Credit authority and modifying the credit percentage formula.
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