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The Build Back Better bill, which includes a historic investment in affordable housing, has been dealt a major blow by Sen. Joe Manchin (D-W.Va.), who said he will not vote for the legislation.

The loss of that one vote looks like it will, at least temporarily, derail hopes of that bill passing in the evenly split Senate.

The Senate version of the sweeping $2 trillion Build Back Better legislation included increases to the annual 9% low-income housing tax credit (LIHTC) allocation, a reduction of the 50% bond financing threshold test to 25%, and other key changes.

Bill supporters were hopeful that Manchin would eventually come around and back the bill with some changes, but the senator appeared on Fox News the Sunday before Christmas to say he was a “no” on the package. The Senate is out until Jan. 3.

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