The Infrastructure Investment and Jobs Act (IIJA), the bipartisan bill advancing in Washington, includes two new uses for private activity bonds, which will compete with affordable housing under state volume cap. Since federal tax-exempt private activity bonds are one of the most important financing tools to build and preserve affordable housing, Congress will need to adopt additional legislative changes to offset potentially negative impacts on affordable housing. Read our brief on the proposed changes and steps Congress must take to ensure housing does not lose resources.