On May 6, ASHA joined a broad coalition of national real estate organizations in support of the bipartisan Workforce Housing Tax Credit Act. In the letter to Representatives Jimmy Panetta (D-CA) and Mike Carey (R-OH), the coalition highlighted the growing affordability challenges facing middle-income renters and emphasized the urgent need to expand the housing supply. The proposal incentivizes the construction of new rental housing for those who earn 60-100% of area median income—designed as a complement to the successful Low Income Housing Tax Credit Program. For years, housing costs have been growing faster than income, creating challenges for people to live near their workplace. The link between housing affordability and workforce recruitment and stability is significant and policymakers have been working to create new incentives to spur development of housing targeted to this “missing middle.”

ASHA and its partners believe this legislation is a critical step toward addressing the nation’s housing shortage and strengthening housing stability for essential workers and middle-income families.

The senior living industry is facing a significant workforce shortage, and while this bill alone will not fully address the challenge, the expansion of affordable housing opportunities through this tax credit in or near employees’ communities could create a significant win for both workers and employers alike.

Click here for the letter.