During a Senate Finance Committee hearing yesterday, U.S. Senator Todd Young (R-Ind.) discussed the impact of the affordable housing crisis on Indiana communities and the importance of passing the Affordable Housing Credit Improvement Act he introduced with Senator Maria Cantwell (D-Wash.).
Senator Young shared concerns from Hoosiers about the affordable housing crisis.
“I have to tell you, as I travel across the state of Indiana, I hear from every community about the importance of affordable housing and about the challenges they are experiencing right now,” said Senator Young. “This shortage is of course being exacerbated by the current inflation challenges more broadly impacting the country.”
Senator Young’s Affordable Housing Credit Improvement Act would expand and strengthen the nation’s most successful affordable housing program—the Low Income Housing Tax Credit (LIHTC)—to address that shortage by building more than two million new affordable units over the next decade and ensuring the program better serves a variety of at-risk and underserved communities.
“We can rally around solving difficult challenges together,” said Senator Young. “This housing affordability crisis, it’s striking how it impacts various demographic groups, geographic areas. It doesn’t really seem to discriminate a lot. The brunt of this crisis falls on a diverse population. It’s so important we support programs and ideas that meet the needs of these varied communities.”
The full video of the hearing can be found here.