Workforce Housing Act of 2006

The Workforce Housing Act of 2006 was designed to make homeownership more accessible for low- and moderate-income families through new tax incentives and federal grants. If passed, the bill would have allowed individuals to deduct cash payments made to specialized mortgage down payment accounts from their gross income and provided a refundable tax credit for those contributions. Additionally, the legislation sought to provide grants to local governments to help developers build affordable housing and required participants to complete homeownership counseling before receiving down payment assistance.