Tax Incentives for Affordable Housing: The Low Income Housing Tax Credit / Mihir A. Desai, Dhammika Dharmapala, Monica Singhal.

Format:

Book

Author/Creator:

Desai, Mihir A.

Contributor:

National Bureau of Economic Research.

Dharmapala, Dhammika.

Singhal, Monica.

Series:

Working Paper Series (National Bureau of Economic Research) no. w14149.

NBER working paper series no. w14149

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Tax Incentives for Affordable Housing

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2008.

Summary:

The Low Income Housing Tax Credit (LIHTC) represents a novel tax expenditure program that employs "investable" tax credits to spur production of low-income rental housing. While it has grown into the largest source of new affordable housing in the U.S. and its structure is now being replicated in other programs, the LIHTC has also drawn skepticism and calls for its repeal. We provide estimates of tax expenditures under this program and discuss pricing, efficiency, and distributional effects of the program. We also consider the impacts of the recent financial crisis on the LIHTC program and explore implications of resulting policy changes and proposals.

Notes:

Print version record

June 2008.