On the recordMay 13, 2025
The Republican majority voted to expand the low-income housing tax credit. First of all, the low-income housing tax credit doesn't really benefit a lot of low-income people, but in any event, the way it works, we give 70 percent of the cost of a developer's project to him in tax credits. That seems a strange way to solve the housing crisis in this country for a Democrat. It is even stranger for a Republican. In any event, I think people should look at this. We are spending $13.5 billion every year on this credit and, like I said, you can get it on all sorts of think tanks. The primary beneficiary is the developer. Probably the number two beneficiary is the biggest banks in the country. It is something that ought to be reviewed.
Source
govinfo.gov
