The 30-year clock is running out on affordable housing ...Middle East

America’s shortage of affordable housing, which has been mounting for years, will significantly worsen in the months and years to come unless federal policymakers step in to both reform and expand the Low-Income Housing Tax Credit — the nation’s largest affordable rental production program. The LIHTC, which was created with bipartisan support under the 1986 Tax Reform Act, has proved a huge success, helping to finance the construction and rehabilitation of about 110,000 affordable rental units a year; more than 3.7 million in total. Under the program, the IRS allocates tax credits each year to the states, which then allocate them to developers and investors who use it to lower the

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The 30-year clock is running out on affordable housing ...Middle East

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