Please see CHAPA’s Action Alert below and call your Congressional Representative and Senator Today!
Last week, the Senate passed its tax reform plan. The Senate version of the bill retains the Low-Income Housing Tax Credit (LIHTC); tax exemption for private activity bonds, which would preserve the 4% LIHTC; and retains the New Markets Tax Credit and Historic Tax Credit. The next step is for the House and Senate to appoint a conference committee to reconcile the differences between their bills.
Although both the Senate and House tax reform plans will be devastating for so many and threaten the future funding of many programs that serve vulnerable individuals and families, a final tax reform plan is expected to be signed into law by the end of the year. We must act to ensure housing programs are preserved. There are key differences between the House and Senate plans. The Senate version preserves critical programs that produce and preserve affordable housing, including 4% credits, the New Markets Tax Credit, and the Historic Tax Credit.
Call your Representative and Senators now and urge them to protect affordable housing and community development in tax reform. Please ask them to contact House and Senate Leadership and members of the Conference Committee to:
- Protect the Low Income Housing Tax Credit
- Preserve the tax exemption of Private Activity Bonds to avoid the elimination of the 4% Low Income Housing Tax Credit
- Retain the Historic Tax Credit and the New Markets Tax Credit
You can find contact information for your Members of Congress by clicking here.