Abstract
As McClure's article notes, the Low‐Income Housing Tax Credit (LIHTC) program has indeed gone mainstream. Given the tarnished reputation of many other federal low‐income housing programs, this is good news. It is also surprising in some ways considering the many programmatic flaws inherent in the LIHTC program. As a point of departure, I look at why McClure and others are able to describe the program in a positive light despite its many flaws. I attribute this to the unique political culture of the United States, for which the LIHTC program is well suited. In addition, it sidesteps one of the thorniest problems that have bedeviled low‐income housing programs—the spatial isolation of poor minorities. Until the LIHTC program explicitly addresses this issue, however, any praise must be tempered by a great deal of caution.
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