The House-passed Tax Relief for American Families and Workers Act contains two important improvements to the Low-Income Housing Tax Credit (LIHTC). Please urge your Senators to support Senate passage of these provisions, which will result in more than 200,000 new and preserved homes in the United States over the next two years. 

The provisions would:

• Restore a 12.5% increase to 9% LIHTCs for 2023 to 2025.
• Decrease the Private Activity Bond (PAB) financing threshold for 4% LIHTCs from 50% to 30% for 2024 and 2025. This is particularly helpful for the 19 states plus Washington, D.C., where there is more demand for PABs for rental housing than is allocated by the state. States have caps on the amounts of PABs that can be used for multifamily housing and once these PABs are used, there is none left for the remainder of the year for other developments. When LIHTC developments use more PABs than they need, this leaves less available for projects that truly need them. Decreasing the threshold from 50% to 30% will make PABs available to more developments that need them.

It is time for the Senate to pass the Tax Relief for American Families and Workers Act to help address America's housing shortage.

Please take action today!