Support A.C.T.I.O.N. to Protect
the Low-Income Housing Tax Credit
The Low-Income Housing Tax Credit (Housing Credit) is at Risk
Congress is considering tax reform that would reduce or eliminate corporate tax expenditures, which may include the Housing Credit program.
Housing Credit percentage rates are set to expire at the end of 2013, which will make affordable housing production less financially feasible.
The Housing Credit is the Nation's Most Successful Affordable Housing Production Tool
Over the past 26 years, the Housing Credit program has financed the development of over 2.6 million rental homes throughout the nation.
The Housing Credit program creates about 95,000 jobs annually and has leveraged near $100 billion in private investment.
Without the Housing Credit, there would be virtually no affordable housing production.
The Need for Affordable Rental Housing is Growing
Affordability is the primary housing problem facing renter households.
In the wake of the foreclosure crisis, nearly half of all renters are rent burdened, meaning they pay over 30 percent of their income in rent.
Nearly one-fourth are severely rent burdened, meaning they pay over 50 percent of their income in rent.
Despite the growing need for affordable rental housing, more than one-fourth of the nation's low-cost rental stock has been lost in the past decade.
The "affordability gap" between people in need of affordable rental housing and the supply of affordable units is widening.
Support Housing Credit Accounting Changes
The Financial Accounting Standards Board (FASB) is seeking comments on industry-supported accounting changes for Housing C...
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