05 May BPC Action Supports Bipartisan, Bicameral Neighborhood Homes Investment Act in Housing
BPC Action commends the bipartisan collaboration of Sens. Ben Cardin (D-MD) and Rob Portman (R-OH) and Reps. Brian Higgins (D-NY) and Mike Kelly (R-PA) to introduce S. 98/H.R. 2143, the Neighborhood Homes Investment Act (NHIA). This legislation would create a new tax credit to encourage much-needed private investment to support the rehabilitation and construction of affordable, entry-level homes in distressed communities. The tax credit would specifically help close the “appraisal gap” between the cost of renovating and constructing these homes and the sales price.
The United States is facing a severe shortage of affordable homes, forcing many Americans to spend an ever-increasing portion of their earnings on shelter while preventing many families from accessing the wealth-building opportunities of homeownership. The Neighborhood Homes Investment Act advances the key priorities of the J. Ronald Terwilliger Center for Housing Policy, which seeks impactful, bipartisan solutions to address the acute shortage of affordable homes.
BPC Action looks forward to working with Congress to secure the passage of this important legislation.