Congress returns this week to address government funding deadlines set for January 19 and February 2. Over the weekend, Congressional leaders announced a spending framework which would increase domestic spending by 0.2 percent over FY 2023 funding levels. The topline funding levels have yet to translate into bill-specific funding levels. Expect to see a potential short-term continuing resolution ahead of the January 19 deadline as congressional negotiators give themselves additional time to work through the details.  

Tax negotiations have also resumed in hopes of passing legislation ahead of the IRS opening the filing season on January 29. Reports indicate a tax deal is 90 percent finished, please ask your elected officials to include provisions from the Affordable Housing Credit Improvement Act (AHCIA) in any tax legislation. The ACTION Campaign and the Affordable Housing Tax Credit Coalition both have great advocacy resources, please don’t hesitate to reach out if you need any additional assistance.  

AHCIA lead sponsors Reps. Darin LaHood (R-IL) and Suzan DelBene (D-WA) published an op-ed in The Hill emphasizing the need to expand and strengthen the Housing Credit by enacting provisions in the AHCIA.  The AHCIA currently has the support of 206 co-sponsors in the House and 30 co-sponsors in the Senate.