#Latest news with #1986TaxReformWall Street Journal3 days agoBusinessWall Street JournalThe Housing Lobby's Tax BoondoggleHard to believe, but Republicans in Congress want to expand a tax subsidy for real-estate developers under the guise of promoting affordable housing. It will do the opposite while larding up the tax code. The low-income housing tax credit has become an entitlement for home builders. Congress enacted the credit as part of the 1986 tax reform to mitigate the blow from extending the write-off period for apartment buildings. But evidence over 40 years shows the credit has failed to stimulate more construction while increasing building costs.
Wall Street Journal3 days agoBusinessWall Street JournalThe Housing Lobby's Tax BoondoggleHard to believe, but Republicans in Congress want to expand a tax subsidy for real-estate developers under the guise of promoting affordable housing. It will do the opposite while larding up the tax code. The low-income housing tax credit has become an entitlement for home builders. Congress enacted the credit as part of the 1986 tax reform to mitigate the blow from extending the write-off period for apartment buildings. But evidence over 40 years shows the credit has failed to stimulate more construction while increasing building costs.
3 days ago
