Navigate Up
Sign In
Español | Kreyòl | More
Skip navigation links
About Us
Meetings & Events
Related Links
What is Affordable Housing
Skip navigation links
Quarterly Newsletter
News -Archive
News -January 2014
News -February 2014
News -March 2014
News -April 2014
News -May 2014
News -June 2014
News -July 2014
News -August 2014
News -September 2014
News -October 2014
January 2, 2013


Bill Introduced to Fund NHTF with Savings from Modifications to Mortgage Interest Deduction
National Low Income Housing Coalition

The Common Sense Housing Investment Act (H.R. 6677) is intended to “convert the mortgage interest deduction to a flat-rate 20% tax credit, cap the maximum mortgage to receive a tax break at $500,000 and direct the majority of the savings gained from these modifications to the National Housing Trust Fund.”  A calculator which provides potential individual tax changes is available by clicking here.  It is estimated that the bill would provide $27 billion annual savings which would be distributed to the National Housing Trust Fund ($15.4 billion), the Section 8 program ($7.7 billion), the Public Housing Capital Fund ($2.5 billion) and the Low Income Housing Tax Credit program ($1.4 billion).  More…