Rep. Mike Kelly leads Ways & Means Tax Team tour addressing affordable housing

WASHINGTON, D.C. -- On Thursday, U.S. Rep. Mike Kelly (R-PA), Chairman of the Ways & Means Subcommittee on Tax, led the Committee's latest Community Development Tax Team site visit in Northwest Washington, D.C. to learn more about the role tax credits can play to boost affordability and accessibility in a challenging housing market. Notably, the role of the Low-Income Housing Tax Credit (Housing Credit) and its impact since its inception in the 1986 tax reform law.

Rep. Kelly, Chair of the Community Development Tax Team, was joined by Rep. Blake Moore (R-UT) and leaders of the Affordable Housing Tax Credit Coalition during the visit.

"During this tour, we were able to see the real impact power of pro-growth tax policy and how it can create affordable housing for millions of Americans," Rep. Kelly said. "As we prepare for the 2025 tax talks, visits like these are vital so we can see first-hand just how these policies are impacting Americans both today and for generations to come."

Since its inception in 1986, the Housing Credit has financed the development of 3.85 million affordable rental homes in urban, suburban, and rural areas, according to the National Council of State Housing Agencies.

BACKGROUND

On Monday, July 8, Rep. Kelly and members of the Community Development Tax Team, kicked off the Committee's Tax Teams site visits with a stop at The Bridge District in Washington, D.C., an approximately $1 billion community revitalization project made possible through Opportunity Zone legislation included in the 2017 Tax Cuts & Jobs Act (TCJA).

In April, Rep. Kelly and Ways and Means Chairman Jason Smith (R-MO) announced the formation of ten Committee Tax Teams, comprised of Ways and Means Republican members, to address key tax provisions from the 2017 Trump tax cuts that are set to expire in 2025 and identify legislative solutions that will continue to help families, workers, and small businesses struggling in the Biden economy. The July 8 visit by the Community Development Tax Team was the first site visit by a Tax Team since they formed in April.