(RECAP: In a tremendous victory for NMHC and NAA, Senate Finance Committee Ranking Member Ron Wyden (D-OR) on Sept. 22 introduced legislation to spur the production of multifamily rental homes for America’s working families through a Middle-Income Housing Tax Credit (MIHTC) that complements the Low-Income Housing Tax Credit. The apartment industry strongly supports the bill, and we immediately applauded its introduction in a statement, based on our concerns that there is a lack of affordable housing available to millions that comprises the nation’s workforce. For this reason, we worked closely with Senator Wyden to develop his proposal that would make building the needed units financially viable. Specifically, under the “Middle-Income Housing Tax Credit Act of 2016,” states would receive allocations of tax credits that would be distributed competitively to finance 50 percent of the cost of qualifying units.)