Lawmakers to Push Tax Credit Boost as Cure for Housing Crunch

Feb. 24, 2021, 9:46 AM

Lawmakers will soon relaunch efforts to expand a long-established affordable housing incentive, pitching it as a way to help the people most harmed by the Covid-19 pandemic.

The low-income housing tax credit has existed in some form since the mid-1980s as an incentive for developers to build and rehab affordable units. Congress recently tweaked the credit—which can subsidize up to 70% of the cost of constructing affordable housing—in December’s government funding and Covid relief bill, but advocates argue bigger changes are needed given the pandemic’s continuing effect on the economy.

Housing concerns continued to worsen in the last half of...

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