Reps. Mike Lawler (R-NY), Young Kim (R-CA), and Joyce Beatty (D-OH) introduced the Community Investment and Prosperity Act (H.R. 5913) to lift the public welfare investment (PWI) cap from 15 to 20 percent.
- This is the House companion bill to S. 2464, led by Senate Banking Committee Chairman Tim Scott (R-SC), along with Senators Lisa Blunt Rochester (D-DE), Bernie Moreno (R-OH) and Andy Kim (D-NJ).
Why This Matters: The proposal to lift the PWI cap, which passed the Senate in October as part of the ROAD to Housing package and is attached to the National Defense Authorization Act (NDAA), now has a House companion bill to build momentum as the NDAA bill moves to conference.
By The Numbers: Among 22 banks surveyed on lifting the PWI cap, 42 percent (or $6.1B) of Housing Credit investments in 2024 came from banks nearing the 15 percent PWI cap.
