April 3, 2019
Washington, D.C. – Speaker Nancy Pelosi issued the following statement announcing a victory for California veterans after the IRS issued new guidance clarifying the use of tax exempt bonds to finance housing projects—preserving financing for nearly 800 units for veterans in California this year alone:
“It has been an honor to secure this victory on behalf of California’s veterans and their families to ensure the IRS issued clear guidelines to protect vital financing for quality, affordable housing in our state and throughout the country. This announcement is a critical step to ending veteran homelessness once and for all and continuing to build a stronger, more vibrant and more inclusive future for all San Franciscans.
“Today’s clarifying guidance by the IRS is welcomed and an essential step in our mission to address the growing affordable housing crisis. For millions of families in California devastated by wildfires and other natural disasters, this clarification ensures continued financing necessary to address the devastating shortage of affordable housing options for those seeking to rebuild their lives. Under the tireless leadership of Congressman Mike Thompson, Ways and Means Chairman Richard Neal and community leaders, this IRS guidance was issued quickly so that we can continue to keep our solemn promise that just as our military pledges to leave no one behind on the battlefield, we must leave no veteran behind when they come home.”