Congress
Industry Groups Request $10 Billion for NHTF
A coalition of 45 national organizations sent a letter to President Obama’s domestic policy and economic teams this week, asking that the Administration provide at least $10 billion for the National Housing Trust Fund in the President’s jobs-creation plan, which includes infrastructure investments, patent reform, free trade deals and an extension of payroll tax cuts.
NH&RA Signs Tax Credit Rebuttal Letter
The National Housing & Rehabilitation Association has signed a letter, joined by numerous organizations, rebutting a proposal by Sen. Tom Coburn (R-Okla.) to eliminate the federal low-income housing tax credit (LIHTC) program.
CARH Considers Deficit Debate’s Impact on Rural Housing
The Council for Affordable and Rural Housing (CARH) has released a detailed summary of the recent legislation signed by President Obama to increase the debt limit from $2.1 to $2.4 trillion and create a bipartisan “super committee” tasked with developing a strategy to lower the national debt by $1.5 trillion over the next 10 years.
FHFA, Treasury HUD Seek Input on Disposition of Real Estate Owned Properties
The Federal Housing Finance Agency (FHFA), in consultation with the U.S. Department of the Treasury and Department of Housing and Urban Development (HUD), has announced a Request For Information (RFI), seeking input on new options for selling single-family real estate owned (REO) properties held by Fannie Mae and Freddie Mac (the Enterprises), and the Federal Housing Administration (FHA).
Sen. Coburn Deficit Reduction Plan Calls for Ending Tax Credits, Slashing Federal Spending
On July 18, U.S. Sen. Tom Coburn (R-Okla.) unveiled a massive deficit reduction plan that calls for slashing federal spending, including for housing programs, and eliminating tax credit programs that promote affordable housing and community development, historic preservation, and renewable energy production.
Rep. Castor Offers Various Housing Proposals
In response to a recent White House discussion meeting which called for bold action to tackle the nation’s ongoing housing troubles, Rep. Kathy Castor (D-FL) has sent a letter to President Obama proposing a number of recommendations that would significantly impact the development of affordable rental housing.
Proposed Bill Would Expand Opportunities for NMTC
Reps. Jim Costa (D-CA), Dennis Cardoza (D-CA), and Jeff Denham (R-CA) recently introduced a bill that would treat certain population census tracts for which information is not available as low-income communities for purposes of the new markets tax credit (NMTC).
House Subcommittee Passes GSE Legislation; Indications that Obama to Introduce on GSE Bill Soon
The House Financial Services Capital Markets and Government Sponsored Enterprises Subcommittee approved five bills designed to constrain Fannie Mae and Freddie Mac and hasten their departure from the mortgage market.
Bills Introduced to Provide Additional NMTCs for Disaster Areas
Reps. Ron Kind (D-WI), Spencer Bachus (R-AL), Richard Neal (D-MA), and Terri Sewell (D-AK), and Sens. John Kerry (D-MA), and Scott Brown (R-MA), yesterday introduced H.R. 2718 and S. 1456, respectively.
NH&RA Summer Institute PowerPoint Presentations
NH&RA is pleased to offer .PDF versions of the PowerPoint slides presented at the 2011 Summer Institute & New Markets Tax Credit Symposium.
New Markets Coalition Urges Support for NMTC Extension
The New Markets Tax Credit Coalition (NMTCC) is circulating a letter of support for the new markets tax credit (NMTC) that urges lawmakers to co-sponsor S. 996, the New Markets Tax Credit Extension Act of 2011.
New Report Dispels Concerns About Section 8
The Center on Budget & Policy Priorities recently released a new report suggesting that there is no evidence that HUD’s Section 8 rental assistance programs for low-income families (Housing Choice Voucher and Project-Based Rental Assistance programs) are crowding out spending on other HUD programs, despite recent concerns from several lawmakers.