Sen. Todd Young’s Affordable Housing Act signed as part of One Big Beautiful Bill

WASHINGTON, D.C — Indiana currently needs more than 137,000 affordable housing units for the state’s low-income households and the recently signed One Big Beautiful Bill Act includes legislation that looks to fill that gap.

In 2017, Senator Todd Young, along with Washington Senator Maria Cantwell, proposed the Affordable Housing Credit Improvement Act to strengthen the Low-Income Housing Tax Credit program. The act will leverage private sector investment which, according to Young, is essential in housing development.

“That’s really the only proven way to build out millions more affordable housing units for middle-class American citizens,” he said.

The act will look to build around 1.2 million housing units across the United States, including 30,000 units in Indiana. In 2024, 8% of central state households were owned by private investors. Young hopes that number will decrease and place tenants in settings with a wide number of job opportunities.

However, Andrew Bradley of Prosperity Indiana said Hoosiers should be aware that this alone won’t solve housing affordability.

“The rub is the production of those homes can be more expensive than they’re able to turn them over to,” said Bradley.

Along with the Credit Improvement Act, Young proposed the Neighborhood Homes Investment Act and the Yes In My Backyard Act. Both acts work to remove barriers in renovating homes and rezoning communities.

Young is currently working with Virginia Senator Mark Warner to revitalize the Neighborhood Homes Act while calling the current act a good step forward.

“This will be great for communities, great for families and when you scale that across the country really great for America,” he said.