67 Mayors Sign-On to Bipartisan Letter Urging Congress to Include Housing Credit Provisions in Next COVID-19 Response Legislation

67 Mayors Sign-On to Bipartisan Letter Urging Congress to Include Housing Credit Provisions in Next COVID-19 Response Legislation

In a June 1 bipartisan letter to Congress, 67 mayors across the country called for the inclusion of our Housing Credit (LIHTC) priorities in the next COVID-19 response bill. The letter, which was circulated by the Seattle Office of the Mayor and the ACTION Campaign, urges Members of Congress to advance ACTION’s proposals for immediate Housing Credit relief: the enactment of a minimum 4 percent Housing Credit rate and the lowering of the “50 percent test” bond financing threshold for 4 percent Housing Credit developments. The mayors cite the urgent need for affordable rental housing in their cities, particularly in light of the economic downturn in the face of COVID-19, and highlight these proposals as immediate solutions to include in the next round of response legislation.

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