Sheila Crowley, NLIHC
Senate Majority Leader Harry Reid (D-NV) has indicated that debate on H.R. 4213, the American Jobs and Closing Tax Loopholes Act of 2010, will begin in the Senate as early as Tuesday, June 8. The version of this bill that passed the House on May 28 includes initial funding for the National Housing Trust Fund, as well as important provisions regarding the Low Income Housing Tax Credit program.
However, the Senate bill will be subject to amendment, so it is crucial that Senators hear from us that the NHTF and other housing provisions remain in any final bill. There will be objections about the bill’s contribution to the federal deficit. Some Senators are advocating that Medicaid payments to the states and the extension of health insurance for the unemployed, which were dropped in the House, be added back. Still other Senators want to negotiate less of a tax increase on venture capitalists and hedge fund managers than is in the House bill.
The housing provisions in H.R. 4213 are among those that are offset by the tax increases in the bill that close loopholes and increase tax equity.
Contact Minnesota Senators to tell them how important the National Housing Trust Fund is. Tell them:
As the Senate considers H.R. 4213 this week, provisions affecting housing for people with low incomes must remain in the bill. These are $1.065 billion for the National Housing Trust Fund and the extension of the Low Income Housing Tax Credit (LIHTC) exchange program.
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