Horizons Fall/Winter 2020

INDUSTRY UPDATE REAL ESTATE

The Outlook for Affordable Housing by Emily Cadik, Affordable Housing Tax Credit Coalition

T he COVID-19 crisis has provided a powerful reminder of the need for a safe home, and since it began, we have seen growing political awareness of the now staggering need for affordable housing. But, the past few months have also seen excruciating legislative gridlock that has prevented even modest bipartisan solutions from advancing. Congress had initially planned for five phases of COVID-19 relief legislation, but has yet to come to an agreement on anything past the CARES Act, which was signed into law in March, meaning there are still two phases left to go.

Ever since the passing of Supreme Court Justice Ruth Bader Ginsburg, the prospect for bipartisan compromise on additional relief has waned further. But, the climate in Washington changes by the hour, and there could be any of a number of events forcing parties back to the negotiating table over the coming weeks and months. When the current continuing resolution expires on December 11 during the lame duck session of Congress, we are hoping for compromise around broader legislation, not only to keep the government funded, but to provide further relief in response to the crisis.

Most immediately, the Affordable Housing Tax Credit Coalition and our partners are

The Outlook for Affordable Housing

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