"This is like the small silver lining in the gigantic hurricane of the big, beautiful bill,"
"If you're kicking out more people off Medicaid, that means that they have to spend more on health care. So more people are going to lose their housing."
"That's a pretty big deal,"
"I don't think there are any downsides to it."
H.R. 1 raises Low Income Housing Tax Credit allocations by 12% permanently and lowers the bond-eligibility threshold for certain tax-exempt bonds from 50% to 25% of total costs. The threshold reduction expands available bond financing and could enable developers to build significantly more affordable units. Accounting firm Novogradac projects about 1.2 million new affordable apartments nationwide over the next decade, roughly 100,000 annually, with California gaining about 10,000 per year. Stakeholders note the increase in housing production but warn simultaneous cuts to Medi-Cal and food assistance may worsen housing instability for vulnerable households. The LIHTC program originated in 1986 to incentivize private investment in affordable housing.
Read at San Jose Spotlight
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