The holidays, traditionally a time for generosity and kindness, serve as a reminder of the pressing need for safe and affordable housing, particularly for people who are most vulnerable. Rising rents and home prices mean that a minimum wage worker has to work 80 hours per week to afford a modest, one-bedroom apartment at fair market rate. About 12.1 million renter households are severely cost-burdened, paying more than half of their monthly income on rent, and leaving too little for other necessary expenses like food, health care, and transportation.
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. And Congress needs look no further than the Affordable Housing Credit Improvement ACT (AHCIA), which is closing out the 118th Congress with record-breaking bipartisan support in both chambers of Congress. In fact, it is the most bipartisan tax legislation in the House of Representatives and cleared official support from nearly 60 percent of Congress overall.
The bill’s financing provisions are estimated to finance the construction or preservation of nearly two million units nationwide over the next decade. The bill also includes important, commonsense modifications to increase resources to meet the needs of rural communities, veterans, seniors, Native Americans, and families with extremely low-income.
Enterprise strongly urges Congress to include the AHCIA in the tax package next year. The ACTION Campaign — co-chaired by Enterprise in support of the Housing Credit — has released newly updated fact sheets, showing the impact of the Housing Credit in every state and congressional district throughout the country.
Advocacy for affordable housing is not just a seasonal cause; it is a year-round commitment, and Enterprise will continue to push for the policies and resources needed to address our shortage of decent, affordable, and safe housing for all. With the spirit of generosity that defines this time of year, we can create lasting change and ensure that everyone has a place to call home. Be sure to check out other information we’ve created with ACTION, including an in-district advocacy guide and other resources to assist in your advocacy efforts. You can also read about Enterprise’s tax priorities for next year in the letter we submitted to the House Ways and Means Republican’s Community Development Tax Team, which was established to explore affordable housing and community development solutions Congress can address next year via the tax code.
Encouraging a Member of Congress to see firsthand the impact of affordable housing on the communities they represent is the most effective way to secure and maintain Housing Credit support. Take a few minutes this holiday season to contact your Members of Congress about the need to expand and protect affordable housing. If you operate affordable housing, volunteer to take them on a tour of a Housing Credit property in their district or state.
Your work to secure safe and affordable housing for Americans doesn’t have to end in Congress. Visit a food bank, soup kitchen, or homeless shelter to make an impact on people in your community who are struggling this season. Attend town meetings to communicate with your local officials and speak to people around you who are interested in affordable housing. The more people know about housing issues, the more likely they are to fight for affordability in their own communities.
