This research examines practitioner expectations and industry reactions to the expansion of the Low-Income Housing Tax Credit (LIHTC) under the One Big Beautiful Bill Act (OBBBA), which introduced a permanent increase in 9% LIHTC allocations and reduced the bond financing threshold for 4% credits. As the primary federal affordable housing tool, LIHTC is widely expected to increase housing production through expanded tax credit availability. Using a qualitative research approach combining literature review and semi-structured interviews with practitioners across the affordable housing sector, this study explores how these reforms are expected to affect housing production, financing structures, and market outcomes. Findings suggest that while LIHTC expansion improves project feasibility, significant financing, regulatory, and institutional constraints continue to limit housing delivery. The research further highlights uneven impacts across markets and raises broader questions about the limitations of relying on tax credits as the dominant affordable housing policy mechanism.