The Senate's Big Beautiful Bill includes critical housing provisions, such as a permanent 12% increase to the housing tax credit, which may significantly enhance affordable housing development. The Affordable Housing Tax Credit Coalition anticipates this increase could result in over 1 million additional affordable homes in the next decade. Additionally, the bill lowers the bond test threshold to 25%, facilitating further housing financing. Despite discrepancies with the House version—specifically cuts to rural and Native American housing—housing experts like Shaun Donovan praise the bill’s potential to respond to urgent housing needs and support lower costs for families.
The Senate has just taken a monumental step toward increasing the number of affordable homes for communities nationwide, responding to the national demand to lower costs for families in every corner of this country.
Expanding and strengthening the Low-Income Housing Tax Credit will create over one million additional affordable homes at a time when they are so desperately needed, keeping costs down for hardworking families.
#affordable-housing #housing-tax-credit #senate-bill #low-income-housing-tax-credit #real-estate-development
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