At Habitat Wake, we are always up for a challenge and that’s a good thing since providing homeownership to families earning less than 60% of the area median income is quite a feat in itself. However, lately the news from Washington begs the question, “Can you make it any harder?”
Here’s just a few recent proposals that make the task of providing affordable housing that much harder:
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The White House eliminates all funding programs that Habitat for Humanity utilizes in its’ FY19 budget proposal.
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Tax Reform Act of 2017 raises standard deduction and puts charitable giving deduction out of reach for most taxpayers. Even though the Low Income Housing Tax Credit (LIHTC) and New Markets Tax Credit (NMTC) were not eliminated, they are now less valuable due to a reduction in tax rates. LIHTC is the major funding source for affordable rental housing and NMTC recently provided Habitat Wake with $325,000 in funding for our mission.
https://www.nytimes.com/2018/01/18/business/economy/tax-housing.html
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Proposed tariffs by the White House threaten to raise prices on building products.
http://www.businessinsider.com/donald-trump-tariff-impact-on-housing-and-construction-2018-3
HELP! With a skyrocketing need for housing in Wake and Johnston Counties, now is not the time to make it harder. If this concerns you as it does us, please contact your elected officials.
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