The Low Income Housing Tax Credit program is helping to produce most of the new affordable housing in our country. But why is the IRS involved with creating affordable housing and how does it work? And who gets left behind when this housing subsidy is not targeting the lowest-income people? In episode 11, John and I talk to Texas Housers analyst J.T. Harechmak about how tax credits work and the implications of a program often driven by business interests.
We also discuss ways advocates have pushed for improvements to the program and ways to make this mechanism for affordable housing production better serve those who need the help. We conclude that the Low Income Housing Tax Credit program is no substitute for direct investment and commitment to alleviating the housing crisis and the disproportionate burden that low-income people bear in the crisis.
Links to articles discussed: It’s Nimby Time…Again by Texas Housers