WASHINGTON, DC — (RealEstateRama) — The National Housing Conference (NHC) applauds Senators Maria Cantwell (D-Washington), Johnny Isakson (R-Georgia), Ron Wyden (D-Oregon), and Todd Young (R-Indiana), and Representatives Suzan DelBene (D-Washington), Kenny Marchant (R-Texas), Don Beyer (D-Virginia), and Jackie Walorski (R-Indiana) for their bipartisan leadership in introducing the Affordable Housing Credit Improvement Act of 2019, S. 1703/H.R. 3077.
The bills include a 50 percent increase in Housing Credit authority, which is estimated to help fund construction of nearly 400,000 additional affordable homes over the next 10 years. Additionally, the bills would also establish a minimum 4 percent Housing Credit rate, allowing for more than 60,000 additional affordable homes to be built during the same period.
“We are millions of units short of affordable housing and the result is that nearly half of all renters spend more than 30 percent of their income on rent,” said David M. Dworkin, NHC’s president and CEO. “This legislation is an important step towards closing the housing supply gap, but there’s much more to do. This is why NHC is working with its members to create a new National Housing Act for the 21st century. Comprehensive and bold action is needed, but we cannot wait, which is why NHC strongly supports enactment of the Affordable Housing Credit Improvement Act as soon as possible.”
The National Housing Conference has been defending our American Home since 1931. #OurAmericanHome @natlhousingconf @davidmdworkin
About NHC: The National Housing Conference has been defending the American Home since 1931. We believe everyone in America should have equal opportunity to live in a quality, affordable home in a thriving community. NHC convenes and collaborates with our diverse membership and the broader housing and community development sectors to advance our policy, research and communications initiatives to effect positive change at the federal, state and local levels. Politically diverse and nonpartisan, NHC is a 501(c)3 nonprofit organization.