An Eastern Wisconsin Congressman is doubling down on his call to end the Low-Income Housing Tax Credit.
The Washington Post recently published an article confirming that the LIHTC program enriches developers, banks, and lawyers while failing to effectively help the low-income Americans it was meant to serve.
Rep. Glenn Grothman noted that the article, “article exposed what we’ve known all along: the LIHTC program is not only inefficient, it’s scandalous.”
The Glenbeulah native noted that “Projects built with LIHTC subsidies can cost up to $1.3 million per unit in Washington, D.C, far more than the average market-rate home in the city…It’s time to end LIHTC and invest in solutions that truly help American families, not line the pockets of wealthy developers.”
He is also reminding residents and his fellow legislators of his recently introduced bill, the Low-Income Housing Tax Credit Elimination Act, which he said will “shut down this broken, bloated program.”
