We often talk about the fact that our industry has a history of moving mountains and achieving amazing results for affordable housing. Year after year, we succeed in educating and advocating for the LIHTC and the results speak for themselves; a successful program, increased allocations and strong support among policy makers joining us in addressing the housing crisis.
We are on track to continue that record of accomplishment and are thrilled that cosponsors of the Affordable Housing Credit Improvement Act have reached a quarter or more of both chambers. In the Senate we have 25 bipartisan cosponsors for S. 1703 and in the House we have exceeded 150 bipartisan cosponsors for HR. 3077. And considering the bills were introduced on June 4th of this year, these levels of support were achieved in record time, another acknowledgement of the affordable housing crisis across the country.
So what now? If you look at the attached list, you will see who has and has not signed onto the bills in the House and the Senate from your state(s). We encourage you to keep at your advocacy but of more importance now is getting those members that have come on board to contact the leadership of the tax writing committees (Senator Grassley, Senator Wyden and Congressman Neal) and leadership in both chambers (Speaker Pelosi, Congressman McCarthy, Majority Leader McConnell and Minority Leader Schumer) to let them know the LIHTC is a policy priority for them. As we have noted, negotiations on the tax package have begun and it is important for leadership to hear from their Members about their priorities. Let’s not have our efforts go to waste when our policy priorities are so close to being addressed.
Thank you and stay tuned.