November 28, 2022

Today, Representatives Suzan DelBene (WA-01) and Brad Wenstrup (OH-02) led 54 members of Congress urging House leadership to address the nation’s growing affordable housing shortage. In a letter, the lawmakers requested provisions that would strengthen and expand the Housing Credit be included in a potential year-end legislative package to increase affordable housing production and lower costs for American families.

The letter calls on House Leadership to include two provisions from the bipartisan Affordable Housing Credit Improvement Act that would increase affordable housing production:

  • Extend the 12.5 percent Housing Credit allocation that expired at the end of 2021. These resources can be deployed immediately allowing ready-to-go developments to move forward.
  • Lower the “50 percent test” to 25 percent to increase Housing Credit access. This would allow all states to more efficiently use their Private Activity Bond cap and unlock resources for states to complete hundreds of thousands of additional shovel-ready developments.

Click here to read the full announcement.