Talk of federal tax cuts chills affordable housing market, By Elaine S. Povich, April 25, 2017, Stateline: “The planned A.O. Flats housing development in this city’s Jamaica Plain neighborhood was billed as an oasis for low- and middle-income families, a place where they could get affordable housing in an increasingly affluent area. Financing was nearly in place and construction was set to begin until President Donald Trump and Congress started talking right after the election about delivering the biggest overhaul of the federal tax code in more than 30 years. Those plans include simplifying tax law as well as cutting taxes, especially for the better-off and for corporations. Suddenly, because of the proposed slash in corporate tax rates, federal low-income housing tax credits, the key to financing almost every affordable housing project in the nation, looked like they might be worth less to investors…”
Poverty-related issues in the news, from the Institute for Research on Poverty