Dear Network Member,     

The National Low Income Housing Coalition is conducting a policy campaign to advocate for the adoption of a Housing Tax Reform Proposal, which proposes to alter mortgage interest deductions. The purpose of the proposal is to:

1. Make mortgage interest tax breaks more accessible to lower and middle homeowners, and  
2. Save the federal government close to $20 billion per year.

The proposal entails:

1. Reducing the size of a mortgage eligible for a tax break to $500,000.
   Interest on second homes and home equity loans would also be eligible for credit under the $500,000 cap;
2. Converting the mortgage interest deduction to a 15% non-refundable tax credit. By reforming the deduction to a credit, all homeowners with mortgages could receive this benefit, not just those who have enough income to file itemized tax returns.

Read the proposal here. Read FAQ about the proposal here.

ACT NOW!

As a member benefit, the National CLT Network will notify Network members  

of relevant public policy issues or initiatives that may affect your  

organization and residents.