Shenango Valley News

U.S. Rep. Mike Kelly (R-PA), Chairman of the Ways & Means Subcommittee on Tax, led a Community Development Tax Team site visit in Northwest Washington, D.C., to examine the impact of tax credits on affordable housing. The focus was particularly on the Low-Income Housing Tax Credit (Housing Credit) established in the 1986 tax reform law.

Rep. Kelly was accompanied by Rep. Blake Moore (R-UT) and leaders from the Affordable Housing Tax Credit Coalition during this tour.

"During this tour, we were able to see the real impact power of pro-growth tax policy and how it can create affordable housing for millions of Americans," said Rep. Kelly. "As we prepare for the 2025 tax talks, visits like these are vital so we can see first-hand just how these policies are impacting Americans both today and for generations to come."

According to the National Council of State Housing Agencies, since its inception in 1986, the Housing Credit has financed the development of 3.85 million affordable rental homes across urban, suburban, and rural areas.

On July 8, Rep. Kelly and members of the Community Development Tax Team initiated their site visits with a stop at The Bridge District in Washington, D.C., a $1 billion community revitalization project enabled through Opportunity Zone legislation included in the 2017 Tax Cuts & Jobs Act (TCJA).

In April, Rep. Kelly and Ways and Means Chairman Jason Smith (R-MO) announced the formation of ten Committee Tax Teams comprising Ways and Means Republican members. These teams aim to address key tax provisions from the 2017 Trump tax cuts set to expire in 2025 and identify legislative solutions to assist families, workers, and small businesses affected by current economic conditions under President Biden's administration.