Low-income housing tax credit faces budget cuts
While the sequester went into effect on March 1st, all the details pertaining to what will be cut is unclear. What we do know is that federal funding will be cut 5 to 9 percent for most programs and it is up to the state to decide whether they will increase funding to compensate for the federal cuts. One of the programs that could see cuts is the low-income housing tax credit which helps seniors, veterans, natural disaster victims, and those with special needs find homes.
â??It's been a fairly successful program from our standpoint because it allows people with disabilities who are on a fixed income to be able to find housing and that would include those folks who are transitions out of nursing homes to live in their communities on their own terms and so we would have very strong concerns about whether or not the sequester is going to affect that program and thus affect the ability for developers to build affordable housing,â?? said Shawn Dâ??abreu, Executive Director of Missouri Center for Independent Living.
If you would like to express your concerns to the Missouri legislator while their budget discussions are in session, click the links below for contact information.