Center on Budget and Policy Priorities

Housing

Proposed Expansions of Homebuyer Tax Credit Would Be Highly Inefficient and Squander Federal Resources

“Members of Congress are considering extending — and possibly substantially expanding — the $8,000 homebuyer tax credit enacted as part of the American Recovery and Reinvestment Act (ARRA) of 2009. The credit…expires on December 1 of this year.

“The evidence strongly indicates that Congress should show restraint, especially in considering expansive versions of the legislation.”

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Topics

Basics

Policy Basics: The Housing Voucher Choice Program:
The Housing Choice Voucher Program, (“Section 8”), the nation’s largest federal low-income housing program, provides roughly 2 million low-income families with vouchers they can use to rent housing of their choice in the private market.

Policy Basics: Introduction to Public Housing:
The nation’s 14,000 public housing developments, generally owned and operated by local agencies, provide homes to more than 2 million low-income Americans, most of whom are elderly or have a disability.

Featured Experts

Will Fischer

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Douglas Rice

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The Center works with state and local housing agencies and advocates to improve the effectiveness of federal low-income housing programs — particularly the Housing Choice Voucher Program. We also examine the role that well-designed housing assistance programs can play in advancing goals such as reducing the concentration of poverty.