U.S. Sens. Todd Young (R-IN), Marsha Blackburn (R-TN), and Bill Cassidy (R-LA) on April 29 introduced bipartisan legislation that would expand the low-income housing tax credit to help spur construction of new affordable homes over the next decade.
“Affordable housing is needed in Indiana and across the country,” said Sen. Young, who sponsored the Affordable Housing Credit Improvement Act of 2025, S. 1515, alongside cosponsors Sens. Blackburn and Cassidy — and 27 other original cosponsors, including U.S. Sen. Maria Cantwell (D-WA).
The bill would leverage private-sector investment to increase the stock of affordable housing in both urban and rural communities across the country.
“As a result, this will help to tackle the housing affordability crisis head-on to help Hoosier families, expand our workforce, and strengthen our communities,” said Sen. Young.
If enacted, S. 1515 would increase the number of credits available to states by 50 percent for the next two years and make permanent the temporary 12.5-percent increase secured in 2018.
“Doing something to help someone buy a home is consistent with President Trump’s goal of helping working families,” said Sen. Cassidy. “No one should be priced out of a roof over their heads.”
The bill also would stabilize financing for workforce housing projects built using private activity bonds by decreasing the amount of private activity bonds needed to secure housing credit funding, according to a bill summary provided by the lawmakers, and would improve the housing credit program to better serve U.S. military veterans, victims of domestic violence, formerly homeless students, Native American communities, and rural Americans.
“Ensuring access to affordable housing is a critical component in helping Tennessee continue to grow and prosper,” Sen. Blackburn said.
S. 1515 is the companion bill to the same-named bill recently introduced in the U.S. House of Representatives by U.S. Reps. Darin LaHood (R-IL), Suzan DelBene (D-WA), and Randy Feenstra (R-IA), among others.