Democratic Rep. George Latimer, whose New York 16th Congressional District covers parts of Westchester and the Bronx, has introduced two bills that are designed to help lower housing costs, with one of the bills targeting costs faced by senior citizens who are seeking to age in place in their current homes.
Latimer’s bill H.R. 9554, Senior Accessible Housing Tax Credit Act of 2026, specifically targets senior citizens who have reached at least age 60 before the close of the then-current tax year and who are trying to age in place in their current homes. It would create a new tax credit for that group to help cover the costs of modifications needed to meet the needs of the seniors. Typical would be the installation of wheelchair ramps and handrails, the widening of doorways, and the replacement of kitchen or bathroom faucets and toilets. The tax credit would be equal to the cost of eligible expenditures, with an annual credit limitation of $10,000.
The benefits of the bill would not apply to nonresident aliens. In the case of married couples, one of the spouses must have reached age 60 by the close of the tax year in order for qualifying expenses to be eligible for tax credits.
The bill was sent to the House Ways and Means Committee as well as the Committee on Financial Services where it will be held for a length of time to be determined by the Republican House Speaker Mike Johnson.
Latimer’s second housing cost bill designated as H.R. 9555, Home Mortgage Interest Credit Act of 2026 would create a new tax credit for mortgage interest paid, up to $2,000 in qualifying interest. According to Latimer’s description, qualified mortgage interest would be defined as interest paid on secured mortgage debt used to acquire, construct, or substantially improve the taxpayer’s principal residence.
Rep. Latimer speaking on House floor about his housing bills.
Latimer said that if his bill were adopted it would create consistency in the tax code for mortgage holders who take the standard deduction, similar to mortgage holders who itemize their taxes through the home mortgage interest deduction. In a typical situation, a mortgage holder who takes the standard deduction and pays $1,600 in mortgage interest in a given year would be able to claim a $1,600 mortgage interest credit on their taxes.
H.R. 9555 was referred to the House Ways and Means Committee.
“In New York and across the country we are in an affordable housing crisis,” Latimer said in a speech on the House floor. “According to the Federal Reserve Bank of Atlanta a household in the New York City region making a median income would need to spend 65% of their income to afford the average home. No family should have to spend over half of their income on housing.”
Latimer said that the bills he introduced would help families better afford home ownership and allow seniors to age in place.
“As county executive I worked to construct affordable housing units and deliver options for families looking to move to my home county of Westchester,” Latimer said. “But more action is needed. We must work toward a sustained all-of-government approach through funding, tax policy and regulatory reform to fully tackle this affordability problem. While the president claims that no one cares about housing I look forward to moving these common sense proposals forward with my colleagues to make affordable housing available again.”