Republican Indiana Senator Todd Young emphasized the need for Congress to pass the “Affordable Housing Credit Improvement Act” when he spoke in a Senate Finance Committee meeting Thursday.
He introduced that legislation along with Democrat Senator Maria Cantwell of Washington. Young believes this bill would expand and strengthen the nation’s most successful affordable housing program to help combat the problems brought on by inflation.
“I have to tell you, as I travel across the state of Indiana, I hear from every community about the importance of affordable housing and about the challenges they are experiencing right now,” said Young.
Young says this legislation would expand and strengthen the nation’s most successful affordable housing program-the Low Income Housing Tax Credit (LIHTC)-to address that shortage by building more than two million new affordable units over the next decade.
“We can rally around solving difficult challenges together. This housing affordability crisis, it’s striking how it impacts various demographic groups, geographic areas. It doesn’t really seem to discriminate a lot. The brunt of this crisis falls on a diverse population. It’s so important we support programs and ideas that meet the needs of these varied communities,” said Young.