Tax Law Expected to Reduce US Affordable Housing Production
The construction industry will see a change to the amount of affordable care housing production in 2018. According to an accounting firm, there will be a 16% decline.
In an article from The Nonprofit Quarterly, author Steve Dubb writes, “How this works is all a little bit complicated, but, as NPQ has covered before, for better or worse, the federal government often prefers tax credits (also known as “tax expenditures”) to directly buying the services it wants.”.
In the article, Dubb discusses:
- The tax credit mechanism
- The cuts are poorly timed
- The states that responded
Dubb continues, “In the meantime, housing affordability challenges loom large. As Dougherty points out, “Over the next decade the younger half of the millennial generation will move into their 20s and 30s, adding to the pool of renters.” Will these decline in affordable housing impact your construction business?
To read more, see the full article from Steven Dubb in The Nonprofit Quarterly.