LaHood Co-Sponsoring Affordable Housing Credit Program Legislation For Low-Income Housing

By Benjamin Cox on May 13, 2023 at 9:06am

16th District Congressman Darin LaHood and bipartisan colleagues in the House and Senate are co-sponsoring legislation that would help expand affordable housing.

The Affordable Housing Credit Improvement Act would support the financing of more affordable housing by expanding and strengthening the Low-Income Housing Tax Credit program. The bill has over 60 bipartisan original cosponsors in the House.

Citing the rising cost of rent and the nation’s nearly 600,000 homeless; LaHood says the bill will help drive investment to produce nearly 2 million new affordable homes over the next decade. LaHood says the affordable housing crisis in the country is especially prevalent in rural areas of the country.

According to the ACTION Campaign, the act has been introduced in the past 3 Congresses and has earned broad bipartisan support. The group says in addition to creating more homes, the act will help create nearly 3 million jobs, add an additional $120 billion in additional tax revenues, and add more than $346 billion in wages and business income around the country.