Tax Credit Advisor ““ October 2010 ““ The President’s Economic Recovery Advisory Board has released a report outlining various tax reform options that mentions the low-income housing tax credit but doesn’t make any recommendation about what should be done about it. The report could be a preface to the consideration of tax reform legislation in the next Congress. The report outlines options for simplifying the current federal tax system, improving compliance by taxpayers, and reforming the taxation of corporations. Under the area of corporate tax reform, it cites as one option the elimination or reduction of certain tax expenditures, and identifies 11 specific tax incentives including the LIHTC. A table estimates the federal government’s revenue loss from the LIHTC during FY 2008-2017 at $61 billion, all but $6 billion of it from corporate taxpayers. Read More…