National Housing Conference applauds Federal Housing Director Pulte’s move to expand investment in Low-Income Housing Tax Credits
Washington, D.C. – RealEstateRama – The National Housing Conference strongly supports the decision by Federal Housing Director Bill Pulte to allow Fannie Mae and Freddie Mac to double their purchases of Low-Income Housing Tax Credits (LIHTC).
“Director Pulte’s decision is the right move at the right time. As we increase the allocation of housing tax credits in the One Big Beautiful Bill, it’s important that we also ensure that the market will absorb the additional credits without diminishing their value,” said David M. Dworkin, President and CEO of the National Housing Conference. “Having Fannie Mae and Freddie Mac increase their purchases will help increase demand for the credits, thereby creating even more units of affordable housing than would otherwise be the case,” he said.
Dworkin added that “Restraining GSE LIHTC credit purchases as they recovered following their exit from the LIHTC market in the 2008 financial crisis was important at the time. But this caution is no longer necessary and past restraint, which I supported at the time, is now counterproductive. Fannie Mae and Freddie Mac’s expansion of their LIHTC business will have a material effect on the affordable housing supply crisis.”
Dworkin continued, “The additional investment in difficult to serve LIHTC markets and Duty to Serve Rural Communities will make a significant contribution to serving so called CRA deserts, where the Community Reinvestment Act (CRA) is less effective and affordable housing investments are badly needed.”
###
About the National Housing Conference (NHC): Founded in 1931, the National Housing Conference is the oldest and broadest housing coalition in America. NHC is a diverse continuum of affordable housing stakeholders who convene and collaborate through dialogue, advocacy, research, and education, to develop equitable solutions that serve our common interest—an America where everyone is able to live in a quality, affordable home in a thriving community. Politically diverse and nonpartisan, NHC is a 501(c)3 nonprofit organization. To learn more about NHC, visit www.nhc.org.
Contact:
Kara Beigay
202-466-2121 ext. 284
