Jim Clyburn Intros Bill to Increase Access to Affordable Housing
Assistant Democratic Leader Congressman Jim Clyburn (D-SC) on Thursday introduced legislation to increase access to affordable housing for low- and mid-income families. If passed, the Restoring Tax Credits for Affordable Housing Act would restore the 235,000 affordable housing units projected to be lost over the next ten years due to Republican tax reform, and dramatically improve access to affordable housing across all income groups. Specifically, it would increase the per-capita low-income housing tax credit allocation from $2.70 to $2.90, and the small-state minimum low-income housing tax credit allocation from $3.1 million to $3.365 million. “With evictions happening at a rate four times higher than the national average, steady foreclosures, insufficient affordable housing options and wages that have not kept pace with living expenses, far too many South Carolinians are struggling to make ends meet,” Clyburn said. “Home ownership and safe and secure housing are central to stabilizing and maintaining healthy communities and building family wealth. I hope my colleagues from both sides of the aisle will join me in addressing America’s affordable housing crisis head on.” More here.