Senior Director for Housing Policy and Research and Interim Program Area Lead, Housing
Lawmakers considering federal tax reform proposals should take this opportunity to rebalance housing subsidies to better align spending with need, as I recently explained on the National Housing Institute’s Shelterforce blog.
The federal government spent $270 billion in 2012 on tax breaks and direct spending to help families buy or rent housing. But most of that spending was on homeownership subsidies — like the mortgage interest deduction — that mainly benefit higher-income families, who would rarely struggle to afford homes without help (see chart). Meanwhile, the number of low-income families — especially renters — paying very high shares of their income for housing has grown rapidly.
As I explain in the post, Congress should take two steps as part of tax reform to rebalance the nation’s housing policy:
Click here to read the full post.