DelBene, Smith, Jayapal Introduce Access to Affordable Housing Act
The legislation would increase the Low Income Housing Tax Credit (LIHTC) by 50 percent, which could result in as many as 400,000 more affordable housing units over 10 years. ?
WASHINGTON, D.C. – Congresswoman Suzan DelBene (WA-01) today led members of the Washington state delegation representing King County in introducing the Access to Affordable Housing Act to increase the Low Income Housing Tax Credit (LIHTC) by 50 percent.
“Making sure that every American has a safe and affordable place to call home is a moral imperative that we must address,” DelBene said. “To help lift families out of poverty and expand access to affordable housing, we need to increase the Low Income Housing Tax Credit. Washington has seen it firsthand, housing options are not keeping pace with demand and my legislation would help ensure more families can find stable, affordable housing.”
Reps. Adam Smith (WA-09) and Pramila Jayapal (WA-07) are original cosponsors of DelBene’s bill – all of whom represent King County, where housing demand and costs have sky rocketed in recent years. In Washington state, nearly 400,000 households pay half their income in rent.
“A growing number of our community members are experiencing housing insecurity. We need to do more to address our affordable housing crisis,” said Smith. “Housing is critical component of economic mobility. I am proud to join my colleagues in introducing this legislation to strengthen and expand the Low Income Housing Tax Credit. This is a necessary step in building an equitable future and ensuring that families in Washington state and across the country have access to homes they can afford.”
“Seattle is facing a housing crisis and we need to employ every tool in our toolbox to expand our low-income housing stock. I am so proud to join my colleagues in Washington state as we introduce the Access to Affordable Housing Act and tackle the housing crisis head-on,” said Jayapal. “All of our neighbors, and everyone across the country, deserves access to a safe, affordable home and a greater sense of stability. By raising the Low Income Housing Tax Credit, we are not only increasing our state’s ability to build low income housing, we are opening doors to opportunity for people across our communities.”
The Access to Affordable Housing Act would increase the Low Income Housing Tax Credit (LIHTC) by 50 percent, which could result in as many as 400,000 more affordable housing units developed over 10 years.
DelBene serves on the House Ways and Means Committee, which has jurisdiction over tax issues. DelBene is also a cosponsor of the bipartisan Affordable Housing Credit Improvement Act, a comprehensive bill to strengthen the LIHTC by providing states flexibility and encouraging development in rural communities.