In a letter to House Speaker Paul Ryan (R-Wis.), Texas and Florida housing groups warned that the House GOP tax bill could hurt post-hurricane rebuilding efforts.
The proposed bill eliminates a significant infrastructure financing tool -- the deduction on tax-exempt private activity bonds (PABs), according to The Hill. PABs are issued for private projects, and used to finance a variety of infrastructure projects. The Senate's tax bill would preserve the tax exemption for PABs.
“This bill, as currently written, would make it significantly more difficult to repair and rebuild affordable housing in areas affected by Hurricanes Harvey and Irma,” the Florida Housing Coalition and the Texas Affiliation of Affordable Housing Providers wrote. “We strongly urge you to not hold a vote on the bill until this issue is fully addressed.”