Pandemic Could Force Rescue Of Housing Tax Credit Program

Law360 (October 15, 2020, 7:19 PM EDT) -- Congressional lawmakers may have to revisit options from the Great Recession used to reverse a shortage of affordable housing if the economic downturn from the coronavirus pandemic leads to construction delays, tighter credit and fewer investors in housing tax credits.

Even before the coronavirus pandemic, business investment in affordable housing hadn't fully rebounded following the corporate tax rate cut in the 2017 federal tax law. Above, an affordable living facility in the Rockaways neighborhood in Queens, New York City, in February. (AP Photo/Mark Lennihan) Housing experts caution that although the low-income housing tax credit program, an $8 billion federal initiative used to...

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