Election Countdown: Housing Advocacy Update and Call to Action
As we reach the final weeks before the 2024 elections, a trying and anxiety-riddled time for many of us, we thought we would reach out to our Housing Advisory Group membership one more time with an update on things relevant to our mission and a few relevant to the future of our mission.
First, a big thank you to all who submitted letters to the Ways and Means Community Development tax team by the October 15th deadline. Here is the letter submitted by the Housing Advisory Group. We would invite any member or organization that submitted a letter to share it with us as the Action Campaign keeps a file of the submissions. We are confident the tax team has received significant positive feedback and recommendations on how the committee can support and expand affordable housing production and preservation through the LIHTC.
We also want to report that conversations with the lead sponsors of the Affordable Housing Credit Improvement Act have been ongoing. In preparation for whatever happens with the election, the steering committee of the Action Campaign, of which HAG is a founding member, has agreed upon a set of potential changes to the AHCIA for the sponsors' consideration. That is not to say that the proposals on this list are the only changes that may be considered, but ones that have garnered a consensus within the working group.
We have also continued discussions with the Administration and various agencies on insurance, GSE investment in LIHTC and non-LIHTC affordable housing, Davis Bacon wage requirements, disaster recovery resources, BABA (Build America Buy America) regulations, and more. The activity related to these issues will obviously be affected by the election results.
Speaking of the election, as a housing advocacy organization, we have endeavored to communicate with each presidential campaign on their housing platforms and priorities. If you have been paying attention to the campaigns as well as the coverage of issues, we all know housing and the lack of affordable housing continue to be a central issue throughout the country.
We have so far been unsuccessful in our efforts to engage the campaign of former President Trump. We have had success with Vice President Harris’s campaign, and many of you might have heard her reference insurance as a critical issue for consumers. We have had several conversations with her team on this topic and have shared statistical information with them. We have also offered guidance on affordable housing production and preservation.
As for what lies ahead, it is up to you and your fellow citizens to decide. We, along with our advocacy colleagues, agree that 2025/26 could be a great year for advancing our affordable housing agenda, securing many of the resources and changes that could add considerably to the housing stock in the country. Or, it could be a time to hold on to what we have and make some modest gains in resources and production. While housing is a bipartisan issue in Congress, the degree to which it will be a priority in the tax bill is largely up to who is dictating the winners and losers. That power will reside with the House and Senate leadership, the tax committee chairs, and the White House. So, for housing, this will be a significantly consequential election.
No matter what happens, we thank you for your support, ask that you be ready for a big advocacy push in 2025, and, most importantly, for now, vote and keep housing in mind when you fill out your ballot.