Congress
House Members Introduce Bipartisan GSE Reform Measure
On September 6, the tenth anniversary of the federal government’s takeover of Fannie Mae and Freddie Mac, retiring House Financial Services Committee chair Jim Hensarling (R-TX) released a discussion draft for the Bipartisan Housing Finance Reform Act. The measure is co-sponsored by Reps. John Delaney (D-MD) and Jim Himes (D-NY) and would eliminate Fannie Mae […]
House of Representatives Approves Tax Reform 2.0; Tax Credit Provisions Absent
On Monday, Sept. 10, House Ways & Means Committee Chair Kevin Brady (R-TX) introduced a three bill follow-up to the Tax Cuts and Jobs Act. These bills constitute Republicans’ Tax Reform 2.0 package and primarily lock in individual and small business tax cuts made in the legislation passed in December 2017, and reform savings- and education-related tax provisions. […]
House Financial Services Committee Schedules Hearing on GSE Reform
On Thursday, September 6, 2018, at 10:00 a.m. in Room 2128 of the Rayburn House Office Building, the Committee on Financial Services will hold a hearing entitled “A Failure to Act: How a Decade without GSE Reform Has Once Again Put Taxpayers at Risk.” This fall marks ten years since the height of the financial […]
House Committee Reviews Effect of Regulation on Affordable Multifamily Housing
On September 6, the housing and Insurance Subcommittee of the House Financial Services Committee held a hearing to examine how the costs of regulation are forming a barrier that prevents more affordable housing development. “The lack of development is especially concerning,” said subcommittee chair Sean Duffy (R-WI), “because while we continue to enjoy some of […]
Sen. Wyden Introduces Middle Income Housing Tax Credit
On August 22, U.S. Sen. Ron Wyden (D-OR) introduced legislation to create a middle-income housing tax credit (MIHTC) aimed at sparking the development of rental homes affordable to Americans with moderate incomes.
House Introduces Bill to Increase LIHTC Allocation
The bill would increase the per-capita LIHTC allocation from $2.70 to $2.90, increase the small-state minimum by $265,000 for a total minimum allocation of $3.365 million to small states, and other changes as well.
House Bill Would Give Rural NMTC $1 Billion Boost
The additional authority would be reserved for Rural Job Zones. Furthermore, at least 25% of the additional authority would be set aside for persistent poverty counties and/or high migration rural counties.
Continuing Resolution Enancted; T-HUD Appropriations Funded Through Dec. 7
The Senate today passed a four spending bill package (HR 6147), including its Transportation, Housing, and Urban Development bill (S. 3023) which would increase appropriations for HUD by 4% over last year’s funding amount, while the House version would increase HUD funding by roughly 2%.
Senate Introduces Bill to Create Task Force Evaluating Impact of Affordable Housing Crisis
The task force would be composed of 18 members, all of whom would be appointed in a bi-partisan fashion by majority and minority leaders of the House and Senate.
Senator Harris Introduces Tax Credit for Renters Paying Over 30% of Income on Rent and Utilities
The tax credit would be available to renters earning less than $100,000, and the benefit shrinks as a tenant’s income rises.
Housing Choice Voucher Mobility Act Passes House
The bill, sponsored by Rep. Sean Duffy (R-WI), would authorize the Secretary of Housing and Urban Development to carry out a housing choice voucher mobility demonstration to encourage families receiving such voucher assistance to move to lower-poverty areas and expand access to opportunity areas.
White House Proposal Would Move Rural Housing Programs to HUD, Transfer CDBG to Dept. of Commerce
The proposal would reorganize several aspects of the Federal Government, with affordable housing and GSE reform in the mix.