[Congressional Record Volume 171, Number 80 (Tuesday, May 13, 2025)]
[House]
[Page H1989]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     LOW-INCOME HOUSING TAX CREDIT

  (Mr. GROTHMAN asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. GROTHMAN. Mr. Speaker, today in a committee hearing, in which 
there were probably very few people in the room, the Republican 
majority voted to expand the low-income housing tax credit.
  First of all, the low-income housing tax credit doesn't really 
benefit a lot of low-income people, but in any event, the way it works, 
we give 70 percent of the cost of a developer's project to him in tax 
credits. That seems a strange way to solve the housing crisis in this 
country for a Democrat. It is even stranger for a Republican.
  In any event, I think people should look at this. We are spending 
$13.5 billion every year on this credit and, like I said, you can get 
it on all sorts of think tanks. The primary beneficiary is the 
developer. Probably the number two beneficiary is the biggest banks in 
the country. It is something that ought to be reviewed.

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