July 30, 2018
Contact: Mitch Schwartz, 970-316-3095
As Washington Ignores Affordable Housing Crisis, Jason Crow Unveils Plan to Expand Coloradans’ Options
Aurora, CO – Today, former Army Ranger and first-time candidate Jason Crow unveiled his campaign’s affordable housing platform – a comprehensive suite of ideas to push back on Washington’s failure to address the crisis in Colorado and elsewhere. As one in four Americans spend more than half their income on rent, Jason’s platform creates a stark contrast with the negligent approach favored by Rep. Mike Coffman and the Trump administration.
The platform focuses on several major issues and initiatives, including federal housing programs and lending policies, Low Income Housing Tax Credits, and workforce housing.
“Tackling Colorado’s affordability crisis is the most important step we can take to keep our state a great place to live, work and play,” said Jason Crow. “Restoring and expanding affordable housing stocks will keep our economy humming and safeguard our social fabric. When teachers, firefighters, and health care workers live in the communities they serve, we all win.”
Read highlights from Jason’s plan below. Click here for the full plan.
Solving the Housing Crisis for Colorado
Washington has ignored the growing housing crisis in Colorado – and across the country – for far too long. Expanding access to affordable housing is critical to safeguarding America’s economy and social fabric. Jason will make increasing the supply of affordable housing one of his primary goals in Congress.
Federal Housing Programs and Lending Policies
- Expansion of Federal Housing Programs including new funding for moderate income housing in high cost areas, using a public/private partnership similar to the Low Income Housing Tax Credit
- Encouraging creation of and contribution into Social Impact Funds targeted to housing and community development
- Legislation that ensures banks provide financing to all qualified borrowers, including those in lower income areas and penalizes lenders for discrimination against borrowers
- Legislation to support the housing needs of and prevent discrimination against those reintegrating into the community after incarceration.
Low Income Housing Tax Credits
- Expansion of the LIHTC program and preventing further attacks on the program
- Enactment of the Cantwell-Hatch bill that would increase the amount of credits available under the LIHTC program by 50%, creating an additional 400,000 affordable housing units nationally, including almost ten thousand units in Colorado, and create 452,000 jobs over the next 10 years.
Workforce Housing
- Expansion of the LIHTC program to include an additional credit allocation for workforce housing.
- Limitations on capital gain tax for housing projects and tax breaks for social impact funds investing in housing that is restricted to middle income/working families (with rent limited to no more than 30% of their income) to encourage private sector development.
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