One-third of the House – including Congressmen Sires, Pascrell and Norcross are co-sponsors of the Affordable Housing Credit Improvement Act (H.R. 1661.)
Vacancies in affordable housing have barely increased, hurting economic growth as job-seekers cannot afford to live near jobs that pay good wages.
Affordable home developments get a majority of their funding from the Low-Income Housing Tax Credit which has produced 3 million housing units since 1986.
The Housing Credit is a federal tax credit that ensures the production and rehabilitation of affordable housing for low income households who rent.