LIHTC Celebrates Three Decades of Bipartisan Support, Success | Apartment Loan Depot Since 2005 – Fannie Mae and Freddie Mac Multifamily Loans Nationwide

(RECAP: Thirty years ago Saturday – Oct. 22, 1986 – President Ronald Reagan signed legislation authorizing the most sweeping tax reform in a generation. The Tax Reform Act of 1986 (TRA ’86) was a victory of bipartisanship, as it simplified the tax code, closed loopholes, eliminated many tax shelters, raised revenues and made one of Reagan’s lasting legacies. TRA ’86 also included the low-income housing tax credit (LIHTC), arguably the most vital affordable housing production tool in American history. Three decades later, more than 13 million people are estimated to have lived in the 2.8 million homes financed by the LIHTC, with close to 100,000 homes annually made and nearly 100,000 jobs a year supported through the program.)