August 26, 2019
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Federal Issues

Cantwell promotes more affordable housing tax incentives in Spokane visit

U.S. Sen. Maria Cantwell, D-Wash., joined Spokane leaders last Tuesday to highlight new legislation that would expand the Low Income Housing Tax Credit Program, The Spokesman-Review reports.

She and U.S. Rep. Suzan DelBene, D-Wash., have introduced the Affordable Housing Credit Improvement Act of 2019, which would expand tax credits for affordable housing by 50%.

“The tax credits are distributed to states by the federal government, and then by states to individual developers of affordable housing,” the newspaper reports. “Those developers typically sell those tax credits to private developers in exchange for cash, which is used to fund the construction or rehabilitation of affordable housing.”

This could lead to the development of 9,700 new units in Washington over the next decade, and an additional 550,000 across the country.

“The lack of affordable housing is actually costing us,” Cantwell said. “The costs don’t disappear, they’re just absorbed in a different place in society, so let’s make this cost-effective.”

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Deadline for written comments on draft overtime rule Sept. 6
Support for Ex-Im Bank Grows

In Our View: Congress must reauthorize Ex-Im Bank now

By The Columbian Editorial Board

For 85 years, the federal Export-Import Bank has helped American corporations compete in the global marketplace. Now it is in need of reauthorization from Congress.

In recent years in Clark County, the bank has supported companies such as Conquest Consulting Group, Northwest Natural Products and Neil Jones Food Company. Across Washington, it has supported companies large and small in every region. About 90 percent of businesses that use Ex-Im Bank services are small businesses that provide local jobs and contribute to the local tax base.

The Ex-Im Bank, which provides and guarantees loans to help foreign entities make purchases from U.S. companies, is particularly important in our state, where an estimated 40 percent of all jobs are tied in some fashion to international trade...

Read the full editorial in The Columbian