RC Action!
 
 
 
November 8, 2017 | Washington, D.C.
 
 
 
 
Help Protect Private Activity Bonds & Use of 4% LIHTCS in the Senate Tax Reform Bill

The proposed elimination of the tax exemption for private activity bonds (PABs) that are paired with 4% LIHTCs in the House tax reform bill, along with changes to the corporate tax rate and elimination of the Historic Tax Credit and the New Markets Tax Credit, will be devastating to the production and preservation of affordable housingespecially over half of pending RAD projects that are planning to use bonds and 4% LIHTCS!​​​​​​​

 

It is critical that the Senate hold the line and prevent the elimination of PABs in the tax reform bill the Senate Finance Committee is devising and then unveiling​​​​​​​, perhaps as early as this week.

 

RC participants with Senators on the Finance Committee (see below) are strongly urged to please contact your Senator and ask them to:

 

  • Preserve the tax exemption of Private Activity Bonds to support the production and preservation of affordable housing
  • Make changes to the Low-Income Housing Tax Credit to strengthen the program and offset the impact of a lower corporate rate on the value of the tax credit by including S. 548, the Affordable Housing Credit Improvement Act, in the tax reform bill
  • Maintain the Historic Tax Credit and the New Markets Tax Credit
  • Advise them that RAD projects depend on PABs and 4% LIHTCs to succeed—including nearly 32,000 units in the active pipeline.

 

Majority Members:

Minority Members:

Hatch, Orrin G. (UT) , Chairman
Grassley, Chuck (IA)
Crapo, Mike (ID)
Roberts, Pat (KS)
Enzi, Michael B. (WY)
Cornyn, John (TX)
Thune, John (SD)
Burr, Richard (NC)
Isakson, Johnny (GA)
Portman, Rob (OH)
Toomey, Patrick J. (PA)
Heller, Dean (NV)
Scott, Tim (SC)
Cassidy, Bill (LA)

Wyden, Ron (OR), Ranking Member
Stabenow, Debbie (MI)
Cantwell, Maria (WA)
Nelson, Bill (FL)
Menendez, Robert (NJ)
Carper, Thomas R. (DE)
Cardin, Benjamin L. (MD)
Brown, Sherrod (OH)
Bennet, Michael F. (CO)
Casey, Robert P. (PA)
Warner, Mark R. (VA)
McCaskill, Claire (MO)

 

RC participants whose Senators are not on the Finance Committee are urged to contact your Senators and ask them to directly talk with their leadership (see Senate leadership list below) and Senate Finance Committee Chairman Hatch (R-UT) and Ranking Member Wyden (D-OR) – and ask them to convey the same message regarding needed changes to PABs, the corporate tax rate and New Market and Historic tax credits as the Senate devises its own tax bill in response to the House version.

 

Majority

Mitch McConnell, Majority Leader (KY)

John Cornyn, Majority Whip (TX)

John Thune, Chair, Republican Conference (SD)

Roy Blunt, Vice Chair, Republican Conference (MO)

John Barrasso, Republican Policy Committee (WY)

 

Minority

Charles Schumer, Minority Leader (NY)

Richard Durbin, Minority Whip (IL)

Patty Murray, Assistant Minority Leader (WA)

Debbie Stabenow, Chair, Policy and Communications Committee (MI)

Amy Kloubuchar, Chair, Steering and Outreach Committee (MN)



 
 
 
 
And please standby for details of a forthcoming joint RC/CLPHA telecon to discuss the latest developments and needed actions in the Senate to protect provisions integral to affordable housing.
 
 
 
 
Contact
 
 

radcollaborative.org

 
 
 
 

455 Massachusetts Ave, NW· Suite 425 · Washington · DC · 20001 

 
 
    
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