Loading...
You are here:  Home  >  Real Estate  >  Current Article

Republican tax plan could grind affordable housing construction to a virtual halt

Posted by   /  November 8, 2017  /  No Comments

    Print       Email

Shutterstock

By Andrea Riquier | Realtor.com®

The tax plan proposed by Congressional Republicans will likely decimate production of new affordable rental housing, even as housing shortages across the country are driving rents higher and taking ever-larger shares of Americans’ incomes.

The plan released last week by the House Ways and Means Committee preserves a well-regarded program called the Low Income Housing Tax Credit — but effectively guts it. That’s because about half of all low-income housing credit development is done in conjunction with private activity bonds, a financing method that the plan scraps.

READ ON:

    Print       Email
  • Published: 9 months ago on November 8, 2017
  • Posted by:
  • Last Modified: November 8, 2017 @ 6:50 pm
  • Filed Under: Real Estate

Leave a Reply

You might also like...

Why the metro Phoenix apartment market is so hot right now

Read More →