The Biden-Harris administration announced progress on implementing its Housing Supply Action Plan. In addition to the Average Income Test regulations and the deadline extensions, The White House also announced, “Reforming and streamlining a financing program at Fannie Mae and Freddie Mac” and “continuing to promote more housing options near transit and other modes of transportation.” The announcement also highlights the steps Treasury took in July to enable more affordable housing development and preservation with State and Local Fiscal Recovery Funds (SLFRF) under the American Rescue Plan.
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