Low-income housing tax credit has created 1.15 million jobs: report

The Low-Income Housing Tax Credit (LIHTC) has created 1.15 million jobs, generated $86.9 billion in local income and increased state and local tax revenue by $67.8 billion, according to a report prepared by Rapoza Associates in partnership with five housing advocacy organizations.

The report comes as legislators are mulling tax reforms that could potentially take a bite out of LIHTC.

“LIHTC has generated billions of dollars in private sector investments to struggling rural communities and must continue to be a centerpiece of federal tax and housing policy,” said Bob Rapoza, president of Rapoza Associates.  “The report shows that LIHTC helps improve the quality and quantity of affordable housing in small towns and farming communities across America.”

Source: PRWeb