Novogradac estimates the latest version of the $1.75 trillion Build Back Better (BBB) reconciliation legislation would finance 936,900 affordable homes over 2022 to 2031. That figure includes an estimated 811,900 affordable rental homes from the bill’s LIHTC unit financing provisions, as well as the 125,000 affordable owner-occupied homes that the proposed Neighborhood Homes Tax Credit would finance.
The LIHTC provisions could house nearly 1.9 million low-income people and the financing of these homes would also generate over a decade:
- More than 1.2 million jobs;
- More than $137 billion in wages and business income; and
- More than $47 billion in tax revenue.