We have been advocating for policies that support affordable housing since our inception. One of our first major contributions was supporting the 1986 Low-Income Housing Tax Credit (Housing Credit), the nation’s leading financing tool for building and preserving affordable rental homes.
While we’ve made remarkable progress as one of the largest Housing Credit syndicators in the country, 10.5 million households continue to pay more than half of their monthly income toward rent.
That is why we are supporting the Affordable Housing Credit Improvement Act (AHCIA) introduced in April 2021. This bipartisan, bicameral legislation would both strengthen and expand the Housing Credit. The three main production provisions in the AHCIA alone are estimated to finance an additional two million affordable rental homes over the next 10 years.
In 2009 we helped establish the ACTION campaign, a broad cross-section of Housing Credit stakeholder organizations. ACTION has become an effective advocacy coalition, bringing the Housing Credit community and industry together to speak with one voice.
Today, more than 2,400 national, state and local organizations and business are working to ensure key stakeholders understand the Housing Credit. Together, we are helping protect, expand and strengthen low-income housing tax credit to protect low-income families and individuals.
Since 1986, we have created or preserved 2,600 communities and invested $17.7 billion across all 50 states, D.C. and Puerto Rico. Today our portfolio ranks among the highest performing in the industry. But there is still more work to be done.
Without our continued advocacy, our nation’s affordable housing supply will fall further behind demand. Which is why we continue to push to strengthen and expand the Housing Credit and other innovative solutions that provide more opportunity for affordable housing to the communities we serve.