The United States is experiencing the highest rate of inflation since the low-income housing tax credit (LIHTC) became a permanent part of the tax code and rising costs have a combination of effects on operators and tenants of LIHTC properties. In this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Blair Kincer, MAI, CRE, discuss the ways inflation can affect LIHTC development costs, operating expenses, financing and operating revenue. They also discuss how utility expenses are affected and compare this scenario to the Great Recession.