Hello John,

Wednesday, an updated version of the Build Back Better Bill was released and we are thrilled that it includes our most critical priorities. THANK YOU to NPH members and partners for your tireless advocacy! THANK YOU to Speaker Pelosi and Senators Feinstein and Padilla for your leadership in helping us ensure that the plan includes the following:

• Lowering the bond threshold test from 50% to 25% for five years, from 2022 to 2026, so that affordable housing developments can use half of the amount of tax-exempt private activity bonds and twice as many can access 4% Low-Income Housing Tax Credits. This is a top priority for NPH and California’s affordable housing community, since access to tax-exempt bonds is the biggest bottleneck to increasing affordable housing production in California.
   
• Increasing the 9% Low Income Housing Tax Credit program by extending the temporary 12.5% increase from 2018, and increasing the allocation by 10% plus inflation for 2022-2024. We will then go back to work to increase them again before they revert to the 2017 baseline (adjusted for inflation).

• $150B for affordable housing, which includes:
  • $65B for public housing preservation
  • $25B for rental assistance
  • $15B for the National Housing Trust Fund​​​​​​

Read more details on the latest housing provisions added to the Build Back Better Plan via the Affordable Housing Tax Credit Coalition.

Read more about these critical investments and learn why targeted housing investments are foundational for improving health, advancing racial equity, addressing climate change, and strengthening the care economy via this fact sheet from the National Low Income Housing Coalition’s (NLIHC) hoUSed campaign.

The House is aiming to vote on the updated bill in the next few days. After passage of the bill in the House, it will move to the Senate. 

Right now, we have a small window of time to make sure that each of our Congressional members votes YES on the bill! Use our pre-drafted letter tool to send a quick note or Tweet to your Member of Congress!

Our collective voices can make a difference! Let’s show loud and clear that affordable housing and rental assistance must be a top priority!

Together, let’s urge our lawmakers DO THE RIGHT THING.

Email or Tweet at your Congressional Member NOW and Urge them to Vote YES on Build Back Better!