Senator Proposes to Eliminate LIHTC Program

Senator Proposes to Eliminate LIHTC Program

A few weeks before Congress passed the debt plan on Aug. 2, U.S. Sen. Tom Coburn released his own deficit-reduction plan, which included the elimination of the low-income housing tax credit program. Ending the tax credit program would save at least $57 billion over the next 10 years, according to his 620-page “Back in Black” report, his proposal to slash the deficit by $9 trillion over the next decade. The move to eliminate LIHTCs drew a sharp response from affordable housing advocates.

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