NHC President & CEO David Dworkin strongly supports housing provisions in the House Ways and Means tax reform bill
WASHINGTON, DC, – RealEstateRama – David M. Dworkin, President and CEO of the National Housing Conference (NHC), released the following statement in response to the House Ways and Means Committee’s tax reform legislation:
“NHC strongly supports the housing provisions included in the House Ways and Means Committee’s tax reform bill, which expand the Low-Income Housing Tax Credit (LIHTC), preserve and make permanent the mortgage interest deduction (MID), and extend, expand, and reform the Opportunity Zones tax incentive.
The LIHTC remains the most effective tool to build and preserve affordable rental housing. This bill proposes a meaningful expansion of the credit, incorporating key provisions from the Affordable Housing Credit Improvement Act designed to increase the supply of rental housing in urban, rural, and tribal communities. Lowering the bond financing threshold from 50 percent to 25 percent could produce or preserve more than a million additional affordable rental homes between 2025 and 2034.
Preserving the home mortgage interest deduction ensures that millions of American homeowners—especially middle-class families—can continue to build wealth and stability through homeownership. These provisions reflect the bill’s balanced approach to strengthening our nation’s housing ecosystem by promoting multifamily rental housing development and supporting single-family borrowers.
The bill’s proposed enhancements to Opportunity Zones—especially its increased focus on rural communities—will help spur long-term investment in distressed communities by incentivizing capital to flow into areas that need it most. These zones have already begun transforming neighborhoods by supporting local development, job creation, and housing expansion.
As Congress works toward final passage, these elements must remain a cornerstone of the bill to deliver on its promise of broad-based prosperity and economic opportunity and begin to effectively address the affordable housing crisis.”
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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
202-466-21121 ext 284
