## Legislative bill overview

The bill S.70 aims to address the issue of access to affordable housing by enhancing the Low-Income Housing Tax Credit (LIHTC) program. The legislation proposes to increase the allocation of tax credits to states, incentivize the production of affordable housing units, and streamline the application process for developers. Additionally, it seeks to support rural and underserved areas by providing additional resources and flexibility in funding.

## Why is this important

The growing housing crisis in the United States necessitates immediate and effective policy intervention. This bill is significant as it aims to expand the supply of affordable housing, which is crucial for low- and moderate-income families facing housing insecurity. By enhancing the LIHTC program, the bill could potentially lead to the construction of thousands of new affordable units, helping to alleviate the burden on housing markets, particularly in high-demand urban areas.

## Potential points of contention

• Increased federal spending may raise concerns about budget deficits and fiscal responsibility.


• Some stakeholders may argue that streamlining the application process could lead to less oversight and potential misuse of funds.


• There may be resistance from local governments and community groups regarding the placement of new developments in their neighborhoods.


• Critics may question whether the increased tax credits will sufficiently address the root causes of the affordable housing crisis.