Cantwell’s Call for Inclusion of Housing Credit Increase in Reconciliation Legislation
On October 26, 2021, during a Senate Finance Committee hearing, Senator Maria Cantwell (D-WA) called for the inclusion of a significant increase in the Housing Credit in the Build Back Better reconciliation legislation currently under negotiation in Congress.
Cantwell said: “Our committee here has done great work on the Low-Income Housing Tax Credit, but we still have a tremendous amount of way to go. We have 7 million units that we need to be built and over 10 million people who live in rent burdened conditions, [where] 50% of their income is spent on rent. We have just not kept pace with supply… the point I’m trying to get out, particularly today… you can spend a lot of money on those issues, but if you’re not increasing supply, then you’re not going to have a place for these individuals to go.” Read the full transcript of Cantwell’s remarks here.
Read Senator Maria Cantwell’s Press Release
Letters in support of the Housing Credit, shared by Senator Cantwell’s office:
- LIHTC Mayoral support letters are available here and here.
- House Democratic Caucus members’ letter available here.
