ACTION Campaign Updates LIHTC Impact Fact Sheets
The A Call To Invest In Our Neighborhoods (ACTION) campaign recently released updated fact sheets on the impact of the LIHTC program in each state through 2015, the latest data available. The ACTION Campaign is a coalition of over 2,000 national, state, and local organizations and businesses working to address our nation’s severe shortage of affordable rental housing by protecting, expanding, and strengthening the LIHTC. It was established in 2009 by a broad cross-section of Housing Credit stakeholder organizations in reaction to the recession and financial crisis that rapidly and drastically affected Housing Credit investment. When the market started to rebound in 2010, the ACTION Campaign shifted focus to protecting the Housing Credit in tax reform and advancing measures to further strengthen the program. The campaign was instrumental in strengthening the Housing Credit by making permanent the minimum 9 percent Housing Credit rate at the end of 2015.
The information includes data on the homes created or preserved, jobs supported, and local income and tax revenue generated. The fact sheets also provide information on the affordable housing shortages that remain in each state, underscoring the need to expand the Housing Credit.
The data come from the National Council of State Housing Agencies’ 2015 Factbook, with economic impact multipliers from the National Association of Home Builders and data on cost-burdened renters from the 2015 American Community Survey. The fact sheets also use data from the National Low Income Housing Coalition’s 2015 Out of Reach report, showing how many hours a minimum wage worker has to work in order to afford a modest one-bedroom apartment.