GOP tax bill would cripple Trump administration plan to solve public housing backlog
2 days ago - By Think Progress
The GOP's tax bill would severely curtail its own administration's plan to solve the country's $49 billion backlog of public housing repairs. That estimate doesn't include repairs related to damage from the recent hurricanes - repairs that could also face serious slowdowns if the House GOP's plan passes.
The House tax plan would tax private activity bonds - a tax-exempt funding mechanism that allows developers to borrow money for a host of projects, including affordable housing projects, at low-interest rates. Lawmakers claim eliminating the exemption would save $38.9 billion (even as the...
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