New bill would expand low-income housing tax credit program

via MarketWatch:

A bipartisan group of lawmakers have introduced legislation in both houses of Congress to expand a well-respected housing program. The Affordable Housing Credit Improvement Act of 2019 was introduced by U.S. Senators Maria Cantwell (D-Wash), Johnny Isakson (R-Ga.), Ron Wyden (D-Ore.), and Todd Young (R-Ind.) and U.S. Representatives Suzan DelBene (D-Wash.), Kenny Marchant (R-Texas), Don Beyer (D-Va.), and Jackie Walorski (R-In.). It would increase the amount of Low Income Housing Tax Credits allocated to each state by 50% over current levels, and expand multifamily housing bond programs, among other steps. The lawmakers estimate this would produce roughly 550,000 more housing units than would otherwise be built.