Daily Tax Update - March 22, 2017: Representatives Introduce Bill to Reform Low-Income Housing Credit

Representatives Introduce Bill to Reform Low-Income Housing Credit:  Yesterday, Ranking Member of the House Ways and Means Committee Richard Neal (D-MA) and Congressman Pat Tiberi (R-OH) introduced the Affordable Housing Credit Improvement Act, H.R. 1661.  According to the press release, the legislation would alter the Low-Income Housing Tax Credit to “give states additional flexibility, make the financing of affordable housing more predictable and streamlined, facilitate housing credit development in challenging markets like rural and Native American communities, increase the housing credit’s ability to serve extremely low-income tenants, and support the preservation of existing affordable housing.”  The bill is companion legislation to the bill Senator Maria Cantwell (D-WA) and Senate Finance Committee Chairman Orrin Hatch (R-UT) introduced earlier this month.

House Rules Committee Holds Hearing on American Health Care Act:  Today, the House Rules Committee held a hearing on the American Health Care Act.  The bill is scheduled for a vote before the full House tomorrow.  A new Congressional Budget Office score to reflect recent amendments to the bill has not yet been released.