Last week, a bipartisan group of lawmakers sent a letter to the Department of Treasury and Internal Revenue Service urging the expedited release of a final rule on income averaging under the LIHTC program. The Biden-Harris Administration’s House Housing Supply Action Plan states that income averaging regulations will be finalized by September.  

Senators Michael Bennet (D-CO), Todd Young (R-IN), Rob Portman (R-OH), Ron Wyden (D-OR) and Mike Crapo (R-ID), and Representatives Suzan DelBene (D-WA), Jackie Walorski (R-IN), Don Beyer (D-VA) and Richard Neal (D-MA) signed the letter.