Treasury Department


Bipartisan Group of Lawmakers Call for Expedited Final Rule on Income Averaging

Last week, a bipartisan group of lawmakers sent a letter to the Department of Treasury and Internal Revenue Service urging the expedited release of a final rule on income averaging under the LIHTC program.


Treasury Calls for More Housing Investments via SLFRF

Last week, Deputy Secretary of the Treasury Wally Adeyemo visited an affordable housing services center in the City of Compton in Los Angeles County where he highlighted how California is using American Rescue Plan funds to keep families in their homes and build more affordable housing. California budgeted over $7.4 billion of its State and […]

Presidential Seal

President Biden Appoints Michael Barr to Federal Reserve

President Joe Biden (D) nominated former Treasury Department official Michael Barr to lead the Federal Reserve’s regulation of the banking system as the central bank’s vice chair for supervision.


CDFI Fund Awards $26 Million to Banks that Increased Investments in Severely Distressed Communities

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced $26 million in awards to 158 FDIC-insured banks, through the fiscal year (FY) 2021 round of the Bank Enterprise Award Program (BEA Program), for increasing investments to communities experiencing severe economic distress across the nation.


Treasury Details ERA 2 Reallocation Process

The Department of the Treasury published plans for reallocation of unspent dollars from the Emergency Rental Assistance program authorized under the American Rescue Plan Act (ERA 2). 


Treasury Reallocates $1 Billion in ERA 1 Funding to States, Localities and Tribes

The U.S. Department of the Treasury announced the second round of reallocations from the Emergency Rental Assistance (ERA) program.


NLIHC Publishes 2022 Advocates’ Guide

National Low Income Housing Coalition (NLIHC) released its Advocates’ Guide 2022: A Primer on Federal Affordable Housing & Community Development Programs & Policies, a comprehensive resource for advocates and others involved in many aspects of affordable housing and community development.


President Biden Releases FY2023 Budget Request

On Monday, the White House released its FY 2023 budget proposal, which requests $71.9 billion in discretionary funding for HUD and $50 billion for “Addressing Cost Pressures and Expanding Economic Capacity.”  


Application Demand for CY 2021 Round of the NMTC Program Released

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced that it received 199 applications under the calendar year (CY) 2021 round of the New Markets Tax Credit Program (NMTC Program).


GAO Recommends Treasury Develop Process for ERA Audits

The U.S. Government Accountability Office (GAO) this week released a report calling on government agencies, including the Department of the Treasury, to improve oversight of COVID relief funding.


Treasury Adopts Final Rule for Fiscal Recovery Funds

The U.S. Department of the Treasury recently issued the final rule for the State and Local Fiscal Recovery Funds (SLFRF).


Treasury Begins Emergency Rental Assistance Reallocation Process

Treasury released new data on the first round of reallocation of Emergency Rental Assistance authorized under the Consolidated Appropriations Act of 2021 (ERA 1).

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