WASHINGTON - Sen. John Chafee once described the tax exemption for mortgage revenue bonds and the low-income housing tax credit as "two horses linked together, pulling the same wagon."

So the Rhode island Democrat and other mortgage bond supporters were concerned last year when Congress approved legislation that would have made the housing credit permanent but extended the mortgage bond exemption for only one year.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.