High Yield Markets
  • World News
  • Politics
  • Investing
  • Stock
  • Editor’s Pick
Editor's PickInvesting

Affordable Housing Testimony

by May 8, 2025
May 8, 2025

Chris Edwards

I testified to a House subcommittee yesterday about affordable housing. In particular, I discussed the low-income housing tax credit (LIHTC), which is a $14 billion a year subsidy program for apartment building developers.

a

LIHTC has garnered bipartisan support over the years, and some members of both parties favor program expansion. However, LIHTC is a very inefficient way to expand affordable housing. With Republicans moving a major tax bill in the coming weeks, now is the time for them to reassess corporate tax loopholes such as LIHTC.

Many Republicans, I suspect, favor LIHTC because they think it is a tax cut. But if they were to look more closely, they would realize it is actually a central planning scheme that imposes vast regulations. 

As for Democrats, their comments at the hearing yesterday were mainly personal narratives or aspirational in nature. They have witnessed problems such as high housing costs, and they hope that federal programs can solve them.

As I noted at the hearing, however, there is a difference between the promise of federal programs and how they actually work. LIHTC is supposed to expand the supply of rental units and aid low-income tenants. But as my testimony discusses, LIHTC displaces market-based housing, and much of the benefits go to developers and investors, not tenants.

Kudos to subcommittee chair Glenn Grothman (R‑WI) for entertaining my views, which differ from many members of his party. Testifying next to me was former Housing Secretary Ben Carson, who took a pro-LIHTC view.

previous post
Slovak PM Fico Accuses Baltic States of “Deliberate Sabotage” of His Moscow Trip Ahead of Victory Day
next post
WAYNE ROOT: Here is the Final Proof Democrats are Deranged, Insane, Brainwashed, Radical Communist Zealots, and Can Never, Never, Never, EVER Be Allowed to Regain Power, or America is DOA.

You may also like

Psychedelic Legalization

July 3, 2025

Bank Capital Standards

July 3, 2025

Freedom of Speech Is Worth Celebrating, as Europe...

July 3, 2025

Expanding Federal Involvement in Education Isn’t the Way...

July 3, 2025

American Craft Brewers Suffering Under Trump’s Tariffs

July 3, 2025

More NYC Corruption

July 3, 2025

53 Percent Don’t Know Why We Declared Independence...

July 3, 2025

Trump’s “Unimpeachable” Reputation

July 3, 2025

The Senate’s Big Beautiful Blunder Could Increase the...

July 2, 2025

Licensing Cartelists Say the Quiet Part Out Loud...

July 1, 2025
Join The Exclusive Subscription Today And Get Premium Articles For Free


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Recent Posts

  • Psychedelic Legalization

    July 3, 2025
  • Bank Capital Standards

    July 3, 2025
  • Freedom of Speech Is Worth Celebrating, as Europe Ramps Up Prosecution of “Hate Speech”

    July 3, 2025
  • Expanding Federal Involvement in Education Isn’t the Way to Celebrate Independence Day

    July 3, 2025
  • American Craft Brewers Suffering Under Trump’s Tariffs

    July 3, 2025
  • About Us
  • Contacts
  • Privacy Policy
  • Terms and Conditions
  • Email Whitelisting

Copyright © 2025 highyieldmarkets.com | All Rights Reserved

High Yield Markets
  • World News
  • Politics
  • Investing
  • Stock
  • Editor’s Pick