"White House Urges Congress for Housing Tax Credits Amid Soaring Inflation Impact"

The White House is urging Congress to pass housing tax credits to address the soaring shelter costs that contributed to the recent spike in core inflation. National Economic Council Director Lael Brainard emphasized the administration's focus on housing affordability and called for bipartisan cooperation to make housing more accessible. President Biden's budget request includes a $28 billion expansion of the low-income housing tax credit program and the establishment of a first-time homebuyer financial assistance program.