3.31.21
On March 31, President Biden released the American Jobs Act, calling it “an investment in America that will create millions of good jobs, rebuild our country’s infrastructure, and position the United States to out-compete China.” Specifically, he called on Congress to take immediate steps to spur the construction and rehabilitation of homes for underserved communities and pass the innovative, bipartisan, and SFA-supported Neighborhood Homes Investment Act (NHIA). The legislation, introduced by Senators Ben Cardin (D-MD) and Rob. Portman (R-OH), would offer $20 billion worth of NHIA tax credits over the next five years and is expected to result in approximately 500,000 homes built or rehabilitated, creating a pathway for more families to buy a home and start building wealth.