Affordable Housing Credit Improvement Act Introduced in Senate

Tuesday, March 7, 2017 - 3:45pm

Eleven U.S. Senators joined Sens. Maria Cantwell, D-Wash., and Orrin Hatch, R-Utah, to officially introduce the Affordable Housing Credit Improvement Act of 2017 today. Sens. Susan Collins, R-Maine, and Michael Bennet, D-Colo., joined as original cosponsors the bipartisan group announced Monday–Sens. Cantwell, Hatch, Ron Wyden, D-Ore., Charles Schumer, D-N.Y., Cory Booker, D-N.J., Dean Heller, R-Nev., Patrick Leahy, D-Vt., Jeff Merkley, D-Ore., Lisa Murkowski, R-Alaska, Brian Schatz, D-Hawaii, and Todd Young, R-Ind. The legislation follows the release by Cantwell’s office of a report, “Meeting the Challenges of the Growing Affordable Housing Crisis,” which highlights the impact on affordable housing of the record increase of 9 million renters in the past decade, relatively low rental housing construction, the removal of 13 percent of existing affordable housing homes since 2001 and stagnant wages.