Congress Nears Funding Deadline: Urgent Call for Bipartisan Support on Affordable Housing Tax Credit Provisions

Congress will return the week of January 8, 2024, facing an immediate crisis to fund certain federal departments and agencies before a January 19th deadline. The remainder of the federal government must be funded by February 2nd. Congressional tax writers are eyeing these funding bills as potential vehicles for a bipartisan tax package.    

To date, it appears that an expanded child tax credit and three expired business tax provisions will be included in what has been reported to be a roughly $80-$100 billion package.  Additions, if any, likely will depend on the cost of the provisions, how they will be paid for, and whether or not they are bipartisan. We have learned the discussions on the tax bill are limited to the leadership, chairs, and ranking members of the tax-writing committees. We need your help reinforcing the critical message that any tax legislation moving through Congress must include bipartisan affordable housing tax credit provisions. 

To that end, we urge you to continue your good work in contacting your elected officials and other Members of Congress where you have properties. Remind them that the Affordable Housing Credit Improvement Act (AHCIA) has strong bipartisan support, with 204 cosponsors in the House and 30 cosponsors in the Senate, evenly divided between Democrats and Republicans. Ask them to contact the chairs and ranking members of the tax-writing committees and the House and Senate Leadership in support of including housing credit provisions in any appropriate legislative vehicle.  

Every Member of Congress understands the dire need to address the housing crisis. Please ensure they understand that the Low-Income Housing Tax Credit is the most powerful tool to produce affordable housing. Urge them to act now to enhance and improve it.