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The federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
Housing subsidies are government funded financial assistance programs designed to mitigate the costs of housing for low-income tenants. Subsidies can be provided in the form of housing vouchers given to tenants, e.g. Section 8 (Housing), or via direct deposits to landlords with government contracts to provide affordable housing.
In the 1960s and 1970s, the federal government created subsidy programs to increase the production of low-income housing and to help families pay their rent. In 1965, the Section 236 Leased Housing Program amended the U.S. Housing Act. This subsidy program, the predecessor to the modern program, was not a pure housing allowance program.
The government has updated the income limits for 2023, which — per Medicare Interactive — are now: up to $1,719 monthly income for individuals. up to $2,309 monthly income for married couples.
Last March, Foodshare benefits for seniors and people with disabilities returned to as low as $23 a month. People often become poorer as they get older, Tussler noted.
More than 3 million enrollees who do not receive Medicare’s low-income subsidy should benefit from the $2,000 cap, according to AARP. That figure will rise to more than 4 million in 2029.
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