Assistant Treasury Secretary Says Bush Proposal's Impact on LIHTC Likely to be Small

Thursday, April 17, 2003 - 1:45AM

Even without taking economic growth into account, the impact of President George W. Bush’s proposed Growth and Jobs Plan on the low-income housing tax credit (LIHTC) and other housing programs is likely to be small, says Assistant Treasury Secretary for Tax Policy Pamela F. Olson in a letter to National Council of State Housing Agencies (NCSHA) Executive Director Barbara Thompson last week. The letter was sent in response to correspondence from Thompson alerting the Treasury Department to an error in the report, “Estimated Impact of the Major Components of the Bush Administration's Growth and Jobs Plan on Housing and the Economy,” released by the Mortgage Bankers Association of America, which found that the dividend exclusion proposal would have a “limited effect” on the LIHTC. Click here for copies of the letters.

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