Build Back Better Act Framework

This morning, President Biden announced a framework for the Build Back Better Act that includes $150 billion for building, preserving, and improving more than 1 million affordable rental and single-family homes. There is no specific mention of the LIHTC in the materials released by the White House and we assume most of those resources may be focused at HUD and USDA, but we have been assured by leadership that the LIHTC is in the mix for inclusion in a final bill. We want to emphasize that what we have seen so far is just a framework. Decisions on the bill have not been finalized, legislative text has not been fully drafted, and many portions of the bill have not been scored. Without scores, decisions on additions of many proposals cannot be made. Also, tax provisions are often the last to be included in a proposal so continued advocacy for the LIHTC at all levels is needed.

We are in close contact with the House and Senate Leadership as well as with our LIHTC champions. They are making a strong case for including LIHTC provisions, but we need you to continue to push your Senators, Members of Congress, and the White House to include them in the final bill. Here is a link to the ACTION Campaign sign-on letter to the President and Congressional Leadership for you to use in your advocacy.

Again, we want to emphasize that this bill is far from done. There may be a push, now that the framework has been released, to have a House vote on the Bi-partisan Infrastructure bill but at this time nothing has been decided

We will keep you informed on developments, and please let us know if you have any questions.