House Members Introduce Access to Affordable Housing Act, an LIHTC Expansion Bill
A group of lawmakers from Washington state recently introduced legislation to increase the LIHTC by 50 percent, which could result in as many as 400,000 more affordable housing units over 10 years. Congresswoman Suzan DelBene introduced the bill along with cosponsors Reps. Adam Smith and Pramila Jayapal. All of them represent King County, where housing demand and costs have skyrocketed in recent years. In Washington state, nearly 400,000 households pay half their income in rent.
“Making sure that every American has a safe and affordable place to call home is a moral imperative that we must address,” DelBene stated when introducing the bill. “To help lift families out of poverty and expand access to affordable housing, we need to increase the Low Income Housing Tax Credit. Washington has seen it firsthand, housing options are not keeping pace with demand, and my legislation would help ensure more families can find stable, affordable housing.”
The Access to Affordable Housing Act would increase the Low Income Housing Tax Credit (LIHTC) by 50 percent, which could result in as many as 400,000 more affordable housing units developed over 10 years. DelBene serves on the House Ways and Means Committee, which has jurisdiction over tax issues. DelBene is also a cosponsor of the bipartisan Affordable Housing Credit Improvement Act, a comprehensive bill to strengthen the LIHTC by providing states flexibility and encouraging development in rural communities.