Will the latest US federal tax cuts kill affordable housing projects like this?
The recent great tax giveaway by President Trump and the Republican Party has provided long term delight for the wealthy. An insubstantial windfall will blow very gently in the ear of the middle class for a few short years. Already, however, new tax legislation is beginning to hit hard at those who need affordable housing.
One predicted fallout from the tax giveaway: the contribution to the federal Low Income Housing Tax Credit will be reduced, threatening developer and financier return on investment, thus making affordable housing projects at best less attractive to them, and at worst causing projects to fail.
Read more in The Los Angeles Times: Affordable housing projects are threatened as tax cuts undermine a source of funding
