Opinion: Congress May Expand The Low-Income Housing Tax Credit. But Why?
“The House-passed Tax Relief for American Families and Workers Act of 2024 would expand the largest federal subsidy program for construction of affordable housing, called the Low-Income Housing Tax Credit or LIHTC. But as designed, the program, which costs roughly $13.5 billion annually, is an inefficient and complex way to deliver housing assistance to low-income families. Despite some slowing in the rise of rental prices, low- and moderate-income households are struggling to find affordable homes. And well-constructed government supports can help.”