On Feb. 13, by a vote of 53 to 47, the United States Senate voted to confirm the nomination of Steve Mnuchin, a former investment banker and Hollywood film financier, to serve as Secretary of the Treasury. Mnuchin served as senior advisor and finance chair to the Trump campaign and recently...
During Dr. Ben Carson’s confirmation hearing before the Senate Committee on Banking, Housing, & Urban Affairs, Carson spoke of harnessing the private sector to help those in poverty, and the Low Income Housing Tax Credit came up specifically during a conversation with Senator David...
A study recently published online in Housing Policy Debate titled “How Location Efficient is LIHTC? Measuring and Explaining State-Level Achievement” finds that recently built rental housing funded by low-income housing tax credits is more likely to be in “location-efficient...
Representative Keith Ellison (D-MN) recently circulated a Dear Colleague letter urging the House Ways and Means Committee to use tax reform as an opportunity to end homelessness and housing poverty by keeping housing-related tax savings within housing. The letter asks representatives to join the...
The expectation that President Trump and Congress will cut corporate taxes is already affecting the pricing of LIHTCs for investors. The anticipation of comprehensive tax reform has made some LIHTC investors pause activity or make decisions based on the assumption of less equity per dollar of...
The Federal Housing Finance Agency (FHFA) recently released a final rule titled, “Enterprise Duty to Serve Underserved Markets.” The rule came about because the Housing and Economic Recovery Act of 2008 (HERA) amended the Federal Housing Enterprises Financial Safety and Soundness Act...
A group of 2,000 organizations and businesses signed a letter urging Congress and the Trump administration to prioritize the LIHTC program during tax reform deliberations. The letter, submitted on behalf of the ACTION Campaign, highlights the accomplishments of the program and why it’s...
A report recently published in the Journal of Housing Economics entitled “Poverty Concentration and the Low Income Housing Tax Credit: Effects of Siting and Tenant Composition” found that the LIHTC program could play a critical role in shaping the distribution of poverty in...
The Social Security Administration recently announced that monthly Social Security and Supplemental Security Income (SSI) benefits for more than 65 million Americans will increase 0.3 percent in 2017. The 0.3 percent cost-of-living adjustment (COLA) will begin to Social Security beneficiaries in...
HUD recently published in the Federal Register the final rule implementing housing provisions under the Violence Against Women Reauthorization Act of 2013 (VAWA) as it applies to HUD programs. The rule codifies VAWA core protections across covered HUD programs to ensure individuals are not...
From Oct. 6 to Oct. 11, as a result of Hurricane Matthew, President Obama and the Federal Emergency Management Agency (FEMA) declared parts of South Carolina, North Carolina, Florida, and Georgia as major disaster areas. Among other federal assistance, these declarations make LIHTC and tax-...
