Congress

The Internal Revenue Services (IRS) has issued an updated Draft Form 3468 and Draft Instructions for the 2018 tax year.  This is the form that taxpayers must submit in order to claim the federal historic tax credit, as well as several other investment and energy credits. Notably, the form answers a significant question coming out of tax-reform — […]

Representative Mark Meadows (R-NC) has introduced H.R. 6890, the Creating Advancement and Personal Improvement in Targeted American Localities (CAPITAL) Act of 2018.

On September 25, 2018 Sen. Elizabeth Warren (D-Mass.), introduced the American Housing and Economic Mobility Act of 2018 which would dramatically expand funding for the for affordable housing. The measure aims to use federal funding as  leverage to build up to 3.2 million new housing units for lower-income and middle-class families – bringing down rents […]

The Committee on Financial Services will hold a hearing entitled “Oversight of the Federal Housing Finance Agency’s role as conservator and regulator of the Government Sponsored Enterprises” on Thursday, September 27, 2018, at 10:30 a.m. in room 2128 of the Rayburn House Office Building. This will be a two-panel hearing with the following witnesses: Panel […]

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 […]

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.  […]

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 […]

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 […]

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.

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.

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.

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%.