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Bill

HR 8626

Workforce Housing Tax Credit Act

119th Congress Introduced by Mike Carey and 2 co-sponsors

Creates a federal middle-income housing credit to incentivize development and preservation of middle-income rental or owned housing.

Introduced in House
1
WeVote Research Nonpartisan
Bill Summary · HR 8626

Summary of HR 8626 (119th Congress)

Title

To amend the Internal Revenue Code of 1986 to provide a credit for middle-income housing, and for other purposes.

Purpose and intent

  • The bill seeks to create a federal tax credit aimed at encouraging the development and/or availability of housing for middle-income households.
  • The overarching goal appears to be increasing supply or affordability of housing options for households that fall between low-income assistance programs and luxury housing, addressing middle-income housing needs.

Key provisions (highlights)

  • Establishment of a new tax credit under the Internal Revenue Code designated to support middle-income housing projects.
  • Credit likely structured to incentivize developers, investors, or other housing providers to undertake middle-income housing development or preservation activities. (Note: specific mechanics such as credit amount, eligible costs, code section references, and project requirements would be defined in the bill text; these details are not provided in the summary provided.)
  • The bill may include eligibility criteria, such as income limits for tenants/residents, project location requirements, or targeting certain types of housing (e.g., rental vs. for-sale, multifamily versus single-family). (Exact parameters would be specified in the full text.)

Who would be affected

  • Housing developers, builders, and investors who participate in middle-income housing projects.
  • Middle-income households seeking rental or ownership options that meet the program’s eligibility criteria.
  • Localities or housing authorities that partner with developers to increase middle-income housing supply.
  • Taxpayers and taxpayers’ interest groups concerned with housing affordability and tax policy.

Procedural and timeline aspects

  • Introduced in the U.S. House of Representatives and referred to the Committee on Ways and Means on April 30, 2026.
  • Co-sponsors include:
    • Zach Nunn
    • Jimmy Panetta
    • Mike Carey
  • As a 119th Congress bill, floor action may follow committee consideration, potential amendments, and votes in the House, and then possible Senate consideration. The current status shows only referral and introduction; no further actions (e.g., hearings, markups, or passage) are listed in the provided history.

Potential impact (based on typical tax-credit design)

  • Could increase the supply of middle-income rental or for-sale housing by lowering developers’ after-tax costs, encouraging new construction or rehabilitation.
  • May influence local housing markets, potentially affecting rents, home prices, and vacancy rates in areas targeted by the program.
  • The actual fiscal impact would depend on credit size, eligibility, duration, and phase-out rules, as well as interaction with existing housing incentives and housing finance programs.

If you’d like, I can tailor this summary once you provide the bill’s text or the official summary, so I can include precise credit amounts, qualifying criteria, duration, and phase-in/phase-out details.

Compiled from official sources — confirm details with the bill’s official record.

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