Severe storms, flooding, and other natural disasters can make an already tough market for affordable rental housing nearly impossible to navigate. An analysis of Colorado counties that received CDBG-DR funding after major disasters in 2013 found that monthly rents in those counties were 4-6% less - the equivalent of $60-$90 - on average than they would have been without the CDBG-DR funding. 

With the results from the 2024 General Election decided, it is confirmed there will be a Republican party government trifecta in the 119th Congress. Due to the slim Republican majority in both chambers, Congress will require complete party unity or some bipartisan support to pass major legislation such as appropriations or tax legislation.

Congress has an opportunity to address our nation’s housing supply shortage in 2025 through major anticipated tax legislation. The solution? Expanding and strengthening the Low-Income Housing Tax Credit (Housing Credit), the nation’s number one tool for producing and preserving homes since its creation in 1986.