More Legislators Indicate Support for Affordable Housing Credit Improvement Act

During the August recess, the Affordable Housing Credit Improvement Act garnered more support and co-sponsorships from Congressional members. The Affordable Housing Credit Improvement Act of 2019 was reintroduced in June by U.S. Senators Maria Cantwell (D-Wash.), Johnny Isakson (R-Ga.), Ron Wyden (D-Ore.), and Todd Young (R-Ind.), and U.S. Representatives Suzan DelBene (D-Wash.), Kenny Marchant (R-Texas), Don Beyer (D-Va.), and Jackie Walorski (R-Ind.).

The legislation would increase the amount of LIHTCs allocated to each state by 50 percent over current levels, and expand multifamily housing bond programs, among other steps. The bill is estimated to spur the building of over 450,000 affordable homes over the next decade and generate $48.5 billion in wages and business income, $19.1 billion in additional tax revenue, and 510,000 jobs.

Including the lead sponsors, there are 88 members (48 Democrats and 40 Republicans) in the House cosponsoring the bill. The latest cosponsors are Representatives Steve Watkins (R-Kan.), Don Bacon (R-Neb.), John Curtis (R-Utah), Guy Reschenthaler (R-Pa.), Jeff Fortenberry (R-Neb.), Tom Cole (R-Okla.), Bill Pascrell (D-N.J.), Stephanie Murphy (D-Fla.), Dwight Evans (D-Penn.), David Joyce (R-Ohio), Frank Lucas (R-Okla.), Ted Lieu (D-Calif.), Adam Smith (D-Wash.), and James Baird (R-Ind.). Including the lead sponsors, the Senate version of the legislation has 18 cosponsors. Senators Thomas Carper (D-Del.), Dan Sullivan (R-Ark.), Michael Bennet (D-Colo.), and Lisa Murkowski (R-Alaska) cosponsored the bill just before the August recess.