Congress is moving forward on tax reform — and affordable housing is at risk. Please take action TODAY!
Tomorrow conference committee members will meet to begin finalizing a bill that could land on President Trump's desk as soon as next Wednesday. If provisions passed in the House are included in the final bill, the impact on affordable housing would be devastating.
Eliminating Multifamily Housing Bonds — a type of tax-exempt private activity bond used by state Housing Finance Agencies to acquire, construct, and rehabilitate affordable multifamily housing — would result in the loss of 3,400 affordable rental units per year in Minnesota alone.
There's still time to make your voice heard. Both Congressmen Paulsen (R-MN3) and Emmer (R-MN6) have publicly spoken out in support of Housing Bonds, but we need to continue to contact Senators and conference committee members, especially:
- Rep. Kevin Brady (R-TX) | 202-225-4901
- Rep. Paul Ryan (R-WI) | 202-225-3031
- Sen. Mitch McConnell (R-KY) | 202-224-2541
- Sen. Orrin Hatch (R-UT) | 202-224-5251
Also reach out to other conference committee members (below) and to key staffers working on this issue.
- Sen. John Cornyn (R-TX) | 202-224-2934
- Sen. Rob Portman (R-OH) | 202-224-3353
- Sen. Tim Scott (R-SC) | 202-224-6121
- Sen. John Thune (R-SD) | 202-224-2321
- Sen. Pat Toomey (R-PA) | 202-224-4254
- Rep. Devin Nunes (R-CA) | 202-225-2523
- Rep. Peter Roskam (R-IL) | 202-225-4561
- Rep. Diane Black (R-TN) | 202-225-4231
- Rep. Kristi Noem (R-SD) | 202-225-2801
- Rep. Rob Bishop (R-UT) | 202-225-0453
- Rep. Don Young (R-AK) | 202-225-5765
- Rep. Greg Walden (R-OR) | 202-225-6730
- Rep. John Shimkus (R-IL) | 202-225-5271
Here's a script and talking points:
"[Sen. / Rep. <name>], my name is [your name] and I live in [city/state], and I am calling to ask that you preserve Housing Bonds in the final tax reform bill. Housing Bonds are tax-exempt private activity bonds, and they are a key tool for affordable housing development.
- Housing Bonds have financed nearly 12,500 properties across the country, providing affordable rental housing to over 1 million families, including low-income families, seniors, people with special needs, and veterans.
- Housing Bonds provide roughly half of all financing for the Low-Income Housing Tax Credit annually. Together, the Housing Credit and Housing Bonds finance approximately 50,000 affordable apartments each year.
- The National Council of State Housing Agencies estimates that between 2005 and 2014, the construction and rehabilitation of rental homes financed with Housing Bonds generated approximately 27,000 jobs and added over $2 billion to GDP annually on average.
- Eliminating Housing Bonds would mean a loss of roughly 800,000 affordable rental homes over the next 10 years.
We can’t afford a tax bill that deepens the affordable housing crisis and undermines development. Thank you."
As an affordable housing champion, your voice matters. Speak up now for this critical development tool.