The bill’s newly created low-tax environment will undermine the value of tax credits used to build walkable urban development and transform the nature of real estate development and investment for years to come.
As Congress moves to reconcile the House and Senate versions of the Tax Cuts and Jobs Act, LOCUS’ top priority is to protect community development and affordable housing tax incentives. Join us as we reach out to the conference committee’s House and Senate Conferees and ask them to maintain these programs and incentives in the final version of the legislation.
Today, House Republicans successfully passed H.R.1, the Tax Cuts and Jobs Act, in a 227-205 vote. Thirteen House Republicans joined all Democrats in opposing the once-in-a-generation tax reform legislation. The bill includes major cuts to community development and affordable housing programs.
On Thursday, November 2nd, House Ways and Means Committee Chairman Kevin Brady released the Tax Cuts and Jobs Act, a draft tax proposal which, if passed, would have a negative impact on community development and affordable housing.
Today, we officially launch the Rebuild America’s Neighborhoods campaign to organize developers and investors to advocate for a federal tax and budget plan that increases private capital investment in public infrastructure, affordable housing and economic development.
This morning, the House Ways and Means Committee unveiled their draft tax reform proposal. Read LOCUS President Jair Lynch’s official response to this once-in-a-generation proposed tax reform legislation.