The Center on Budget and Policy Priorities (CBPP) proposes a renters’ tax credit to improve the effectiveness and equity of the nation’s housing expenditures. Currently, federal spending on housing favors homeownership over renting and targets a larger share of subsidies toward higher-income households. In the MacArthur-supported proposal, CBPP recommends the renters’ credit as a step toward a more balanced housing policy. The renters’ credit, capped at $5 billion, would assist 1.2 million of the lowest-income renters and lift 250,000 families out of poverty.
