MBA Joint Comment Letter in Support of H.R. 7024, the “Tax Relief for American Families and Workers Act of 2024”
The undersigned real estate trade associations write to express our strong support for H.R. 7024, The Tax Relief for American Families and Workers Act of 2024 (the “Act”). We urge you to vote in favor of this legislation when it is considered by the full House of Representatives. The bill, which the Committee on Ways and Means approved by an overwhelming bipartisan 40-3 vote on January 19, would increase the availability of Low-Income Housing Tax Credits (LIHTC) to spur the production of more critically needed affordable housing units, as well as suspend certain tax increases on business investment that took effect in 2022 and 2023. The passage of H.R. 7024 will help increase the supply of housing across the country and have a positive impact on the housing affordability crisis.