House Committee Discusses LIHTC as Infrastructure Investment
The House Ways and Means Committee recently held a hearing called “Paving the Way for Funding and Financing Infrastructure Investments.” The hearing was held the same day that House Democrats unveiled their outline for a $760 billion infrastructure package that includes LIHTC as a tool for community development. According to the outline, Democrats would encourage expanding existing infrastructure tax credits and creating new credits “to improve all sectors of infrastructure investment, including community development projects driven by the new markets tax credit, housing investments incentivized by the low-income housing tax credit, and community revitalization through the rehabilitation credit for historic buildings.”
In his opening remarks, Chair Richard Neal, D-Mass., highlighted the LIHTC as a critical tool for revitalizing struggling communities in both urban and rural areas. And Representative Suzan Delbene, D-Wash., emphasized that infrastructure investments should also include resources for affordable housing. She highlighted her bill, the “Affordable Housing Credit Improvement Act of 2019,” which would strengthen and expand LIHTC.
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