Senate Finance Committee Chair Sen. Ron Wyden (D-OR) has introduced legislation he said would offer first-time homebuyers a down payment tax credit and expand homeownership opportunities.
Proponents noted the Decent, Affordable, Safe Housing for All (DASH) Act would house everyone experiencing homelessness within five years and prioritize children and families for placement by issuing a Housing Choice Voucher; expand health, child care, financial and nutrition services for families and individuals to stay on a path to unassisted housing stability; and increase deeply affordable housing production for families exiting homelessness and low-income households by investing in effective existing programs.
“The nation’s housing crisis has been growing steadily for decades, and with every year that passes, more people struggle to keep a roof over their heads, and more people wind up on the street,” Wyden said. “It’s long past time for federal policy to reflect the fact that housing is a human right. In a nation as wealthy as ours, no child should grow up without a home. It’s clear that people experiencing homelessness need a lot more help than they’re getting today, and doing more to prevent homelessness in the future will save a lot of individual suffering and taxpayer dollars.”
Additionally, the legislation would reform the tax code to strengthen the Low-Income Housing Tax Credit (LIHTC), create a Renter’s Tax Credit and Middle-Income Housing Tax Credit (MIHTC), and include a down payment tax credit for first-time homebuyers.