This weekend, I saw a replay of a hearing the United States Senate Finance Committee held a month ago. The Senators interviewed a variety of representatives of home builders, funders, and advocates about their views on several pieces of legislation being considered. I came away even more convinced that changes being made to the low income tax credit (responsible for 90% of the financing of subsidized housing in the country) would be enacted into law in the next couple of years. The changes being considered would allow the funds to be used to build housing for a larger segment of area median income-eligible residents. Expanding the parameters twenty percent up and twenty percent down would provide enough profits on the high end to pay for reaching down to the low.
