GOP Tax Bill Could Dismantle Maine Housing Program

AUGUSTA, ME — Maine housing advocates have warned that the GOP tax bill passed through the U.S. House of Representatives could eliminate funding for hundreds of new low-income apartments in Maine. They say the loss of the bond program could reduce the amount of affordable housing in Maine by almost 50 percent.

The state's congressional delegation is rallying for the obscure program, called private activity bonds, which was eliminated in the House's version of the federal tax reform bill.

The Portland Press Herald reports private activity bonds allow nonprofits to sell tax free interest bonds to pay for capital improvements to infrastructure and to fund student loans.

The bond program is untouched in the U.S. Senate version of the tax bill. In the Senate, Maine Republican Susan Collins one of the key voter that ensured the bill's passage. Currently, Congress is negotiating to resolve differences between the tax overhaul bills.

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