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LIHTC Cap Increase May Pass Before Congress Adjourns

Tuesday, August 29, 2000 - 1:30AM

National Association of Home Builders President Robert Mitchell said that the low-income housing tax credit (LIHC) cap increase still has a good chance of passage before Congress adjourns later this year on Aug. 29. The move to boost the LIHC from $1.25 per capita to $1.75 per capita, which has strong bipartisan support, could be considered as part of an omnibus tax bill during the final days of the congressional session, scheduled to end Oct. 6. "For years, Congress and the Administration have focused on giving low-income renters vouchers to assist them in finding affordable rental housing and covering their monthly rental payments," Mitchell said. "Now the debate has shifted. More and more members of Congress on both sides of the aisle recognize that we have a serious supply problem and need to look for new ways to stimulate construction of affordable rental housing."

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