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Tax Reform Update

On Nov. 9, 2017, the Senate Finance Committee released its tax reform proposal. Unlike H.R. 1, the bill introduced in the House of Representatives, the Senate proposal retains Private Activity Bonds, which generate 4 percent Low-Income Housing Tax Credits. 4 percent Tax Credits are an extremely important tool in the development and preservation of affordable housing for seniors, and their loss would be devastating to renters across the state. While it is a positive development that the Senate proposal retains Private Activity Bonds, they are still in danger of being cut.

Please take action to urge Congress to protect these and other key tax provisions! LeadingAge NY is asking you to call your representatives TODAY. If you live or work in a district represented by a Republican representative, your participation in this effort is even more important. Let your lawmakers know that New York’s seniors need this, and that protecting these tax provisions is the right thing to do.

Contact: Sara Neitzel, sneitzel@leadingageny.org, 518-867-8835