Martin O'Malley

Martin O'Malley's policies onJobs & Economy

Double the Low-Income Housing Tax Credit

The Low-Income Housing Tax Credit successfully finances virtually all affordable housing construction, through effective public-private partnerships. However, because developers’ demand for credits far outstrips public supply, viable and much-needed projects to serve low-income families are routinely turned down. O’Malley will call on Congress to spur greater investment in affordable housing by gradually doubling annual Housing Credit allocations, providing gap financing, and locking in minimum credit rates that increase housing availability. These steps will help build or preserve up to 80,000 additional, affordable rental homes each year, while supporting tens of thousands of good-paying jobs in communities across the country.

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