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House Ways and Means Committee Chairman Jason Smith and Senate Finance Committee Chairman Ron Wyden recently announced a bipartisan and bicameral tax package deal to be introduced as The Tax Relief for American Families and Workers Act of 2024. If passed, it would revive three business tax credits, expand the child tax credit, and give a boost to low-income housing.
The deal includes two LIHTC provisions from the Affordable Housing Credit Improvement Act (AHCIA). The AHCIA was last introduced in 2023, and it contained long-sought changes to the LIHTC program.
