Congress

In the Senate Appropriations Committee, the Transportation, Housing and Urban Development, and Related Agencies subcommittee held a hearing to review the President’s FY 2025 HUD budget request.

Last week, Congress avoided a shutdown by continuing FY 2024 appropriations to March 1 and 8.

Last week, the House Financial Services Committee held an Oversight Hearing with HUD Secretary Marcia Fudge. The meeting centered around the rise of housing supply, unaffordability, homelessness and the conditions of public housing.  

House Ways and Means Committee Chairman Jason Smith (R-MO) and Senate Finance Committee Chairman Roy Wyden (D-OR) announced a tax agreement, which includes LIHTC provisions to restore the 12.5 percent increase for nine percent LIHTCs for 2023-2025 and lower the bond financed-by test to 30 percent for allocation made in 2024 and 2025.

Congress returns this week to address government funding deadlines set for January 19 and February 2.

Happy New Year! Both the House and Senate remain in recess this week. When they return next week, they’ll have just ten legislative days ahead of the first of two FY 2024 continuing resolution deadlines on January 19.

Happy New Year! Both the House and Senate remain in recess this week. When they return next week, they’ll have just ten legislative days ahead of the first of two FY 2024 continuing resolution deadlines on January 19.

The Affordable Housing Credit Improvement Act achieved a major milestone – 200 co-sponsors within the House of Representatives (H.R. 3238).

Senators Ron Wyden (D-OR) and Dan Sullivan (R-AK) and Representatives Jimmy Panetta (D-CA) and Mike Carey (R-OH) introduced the Workforce Housing Tax Credit Act (S. 3436 and H.R. 6686).

Last week, the Senate passed the spending bill with an 87-11 tally, ending the threat of a government shutdown until after the holidays.

There are 47 days between now and the end of the year and only two days until the government runs out of funding under the current continuing resolution (CR).

Last week the Senate passed a Fiscal Year (FY) 2024 appropriations package which included the Transportation, Housing and Urban Development (THUD) bill.