Former Vice President and Democratic presidential candidate Joe Biden released his housing plan, which calls for the expansion of LIHTC authority by $10 billion and the permanent authorization and expansion of the New Markets Tax Credit.
Biden’s plan also calls for fully funding HUD’s Section 8 program and the establishment of a $100 billion affordable housing fund to build and upgrade affordable housing. Biden’s pledged to increase funding for HUD’s Community Development Block Grant and HOME programs, the National Housing Trust Fund and the Capital Magnet Fund. Biden proposes to create a new renter’s credit for families who earn too much to qualify for Section 8 and a Homeowner and Renter Bill of Rights that would include a ban on source of income discrimination, modeled on the California Homeowner Bill of Rights.
