2011 Message to Tax Committee Members

The Message to Tax Committee Members

When meeting with House Ways and Means and Senate Finance Committee members:

• Stress the importance of the Housing Credit and Bond programs and their benefits in the member’s state or district.  Emphasize their value in producing jobs and economic recovery.
   
• Urge them to keep these benefits in mind during discussions on tax reform and to protect these important programs in any tax reform legislation.
   
• Thank them for the Housing Credit Exchange program, which has been helpful in filling funding gaps during a period of depressed Credit pricing and availability.  Let them know that while Credit pricing and availability are improving, continuing the program would help ensure that the Credit can reach hard-to-serve areas and renter populations with special needs.  Tell them how your agency has used these programs to provide housing help to those that need it.
   
• Let them know we would like to work with them to further strengthen the Housing Credit and Bond programs so they are easier to administer and able to reach more people and places, by enacting program changes that: 
  • Make permanent the temporary provision fixing the floating “9 percent Credit” at 9 percent.
  • Increase access to Housing Credit apartments for working families that cannot afford decent, reasonably priced rental homes and for extremely low-income families that cannot afford most Housing Credit apartments without assistance.
  • Make the Housing Credit more attractive to investors.
  • Increase the Mortgage Revenue Bond (MRB) home improvement loan limit to make up for inflation since the current limit was established in 1986.