There is a story that there are 10 cookies on a table. Around the table sit a CEO, a member of the Tea Party and a union worker. The CEO takes nine of the cookies and tells the Tea Party member that the union worker is taking the cookie on the table.
That tale might be one to keep in mind as we head into the post-election year of 2013, when the government may be ready to continue to push for radically lower income taxes for corporations and high-income earners, while cutting spending on the social safety net. Housing programs, in particular the Low Income Housing Tax Credit (LIHTC) program, may or may not be impacted as federal, state and local budgets are cut.
Sixteen years after it was enacted, the LIHTC program stands at a crossroads. A prime threat to the very existence of the LIHTC program itself is national tax reform. “We are taking the threat very seriously,” says J.P. Delmore, assistant vice president—federal legislative at the National Association of Home Builders (NAHB). “From the 10,000 feet level, we agree that tax reform presents a risk to the program.”
Read more...Will the LIHTC Be Abolished? | Multi-Housing News Online
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