Summary

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    THE NEW CONGRESS has several big decisions to make that will shape our country’s response to our growing housing challenges for years to come.

    It confronts hard choices about the allocation of scarce federal funds to housing, the use of the tax code to support housing, and the mission of the housing finance system itself.

    With its answers, Congress has a unique opportunity to make serious affordable housing gains by building on its proven and powerful partnership with State Housing Finance Agencies.

    HFAs for decades, in strong and weak economies, have effectively leveraged federal resources to help millions of people of modest means purchase their first homes and secure affordable rental housing.

    Recognizing their strong performance, Congress has entrusted to HFAs the administration of the Low Income Housing Tax Credit, private activity tax-exempt Housing Bonds, the HOME Investment Partnerships program, and other key housing programs, with outstanding results.

    HFAs’ long and consistent history of safe and sound lending has also earned them preferred relationships with the Federal Housing Administration and the Government-Sponsored Enterprises, enabling HFAs to further advance their affordable housing work.

    Congress now has the chance to enlist HFAs even more fully in its housing response by strengthening the critical programs they run, increasing the resources available to them, and investing in them in new ways.

    Congress has the opportunity to capitalize on The HFA Difference.

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