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 assistance. Meanwhile, low-income renters are far more likely than higher-income households to pay a very high share of their income for housing and to face other serious housing-related problems.
A federal renters’ tax credit could help reduce rents for over a million poor families at a modest cost and advance a more balanced housing policy.
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