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Mortgage Interest Deduction Is Ripe for Reform
April 4, 2013
Costing about $70 billion a year, the mortgage interest deduction is one of the largest federal tax expenditures, but it appears to do little to achieve the goal of expanding homeownership. The main reason is that the bulk of its benefits go to higher-income households who generally could afford a home without assistance: in 2012, … -
Testimony of Robert Greenstein, President, Before Senate Budget Committee
February 13, 2013
I appreciate the invitation to testify today on the impact of federal budget decisions on families and communities. This is an important matter. As you know, the nation will have to make tough decisions to put the budget on a more sustainable fiscal course. The issue is not only whether policymakers act to secure adequate … -
Testimony of Will Fischer, Senior Policy Analyst, Before the Senate Banking Subcommittee on Housing, Transportation, and Community Development
August 1, 2012
Thank you for the opportunity to testify. I am Will Fischer, Senior Policy Analyst at the Center on Budget and Policy Priorities. The Center is an independent, nonprofit policy institute that conducts research and analysis on a range of federal and state policy issues affecting low- and moderate-income families. The … -
Renters’ Tax Credit Would Promote Equity and Advance Balanced Housing Policy
Revised July 25, 2012
Related files Report without appendices (31pp.) Appendix 1: Comparison of Capped and Uncapped Credits (3pp.) Appendix 2: Method Used to Estimate Cost and Impact of a Renters’ Credit (3pp.) Appendix 3: State Tables (6pp.) One-Page Fact Sheet Over the past several decades, the nation’s housing policy has focused predominantly on increasing homeownership. Most federal housing expenditures now benefit families with relatively little need for … -
SNAP’S Homeless Shelter Deduction Can Provide Much-Needed Help for Homeless Individuals and Families
December 2, 2011
The Supplemental Nutrition Assistance Program's (SNAP) homeless shelter deduction offers states a flexible tool to provide increased benefits to individuals and families who are without permanent housing but still have shelter expenses. Thanks to improvements made in the 2002 Farm Bill, the deduction is simple to administer and can … -
Letter from 810 Groups Urging Senate Banking Committee to Act on Section 8 Reform Legislation
September 21, 2011
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Using TANF Emergency Funds to Help Prevent and Address Family Homelessness
July 13, 2010
At least 15 states are using federal stimulus dollars provided through the Temporary Assistance for Needy Families (TANF) Emergency Fund to assist the growing number of needy families that are homeless or at risk of becoming homeless because of the recession. The number of homeless families has increased for each of the last two years and the … -
Options For Jobs Legislation: Providing $1 Billion To Prevent Homelessness
December 15, 2009
As part of the economic recovery act signed into law in February, Congress approved $1.5 billion in temporary housing assistance for families that are homeless or at risk of losing their homes due to job loss or other financial hardship. These resources, which the Department of Housing and Urban Development (HUD) distributed … -
Reforming HUD’s “Section 3” Requirements Can Leverage Federal Investments in Housing to Expand Economic Opportunity
June 10, 2009
Executive Summary This is an important time to reform “Section 3,” the federal requirement that low-income individuals receive a portion of the economic benefits created through federal investments in affordable housing. Not only is rising unemployment creating added hardship, but federal recovery funds are … -
Limiting Itemized Deductions for Upper-Income Taxpayers Would Have Little Effect on Small Business, Charities, Housing
March 12, 2009
Despite persistent claims to the contrary, the President’s proposal to cap the value of itemized deductions at 28 percent would have only small effects on small business, charitable giving, and homeownership. That’s because the proposal, which would save $318 billion over the next ten years to help finance health care reform, would affect only those tax … -
Costly Isakson Homebuyer Tax Credit Amendment Would Be Ineffective Stimulus
February 9, 2009
An amendment by Senator Isakson that the Senate added to its economic recovery legislation, providing a new $15,000 tax credit for home purchases in the 12 months after enactment,[1] has low bang for the buck as stimulus and is thus a dubious addition to the package. Unlike the $7,500 first-time homebuyer credit that Congress adopted as part of the Housing and Economic Recovery Act in July 2008 — which the new tax credit … -
Number of Homeless Families Climbing Due To Recession
January 8, 2009
Executive Summary New data indicate that the number of homeless families with children has climbed in recent months and continues to mount. Although the recovery package that Congress will consider in coming weeks is expected to include measures to restore several million jobs, an unusually large number of people are still likely to fall into severe poverty and to be at … -
Cuts in Federal Housing Assistance Are Undermining Community Plans to End Homelessness
February 1, 2007
Executive Summary Five years ago, the Bush Administration announced a commitment to end chronic homelessness and reduce other types of homelessness within ten years.[2] If successful, this important initiative would alleviate the severe hardships endured by many of the approximately 3 million Americans who experience homelessness every year, including … -
Effects of the Tax Reform Panel’s Proposals on Low- and Moderate-Income Households
February 3, 2006
Executive Summary On November 1, 2005, the President’s Advisory Panel on Tax Reform presented its recommendations to Treasury Secretary John Snow. The panel’s report offers two alternative comprehensive reform plans, a “simplified income tax plan” and a “growth and investment tax plan.” Both plans, the panel argues, would improve on the current … -
The Family Self-Sufficiency Program
Updated May 4, 2001
Executive Summary The Family Self-Sufficiency (FSS) program is an employment and savings incentive program for low-income families that have Section 8 vouchers or live in public housing. The FSS program was enacted in 1990, based on a proposal by the first Bush Administration. It …
