Congress

On January 4 the President signed Public Law the Section 202 Supportive Housing for the Elderly Act of 2010 (P.L. 111-372).

The U.S. House of Representatives’ Ways and Means Committee Chairman, Rep. Dave Camp (R-MI) recently announced that the committee will hold the first of several hearings on fundamental tax reform this Thursday,

The National Commission on Fiscal Responsibility and Reform has released a draft proposal to reduce the federal debt and overhaul the tax code.

The Senate and House of Representatives have adjourned sine die and will convene for the 112th Congress on Jan. 5, 2011.

A coalition of twelve housing organizations has signed onto a letter sent by the National Council of State Housing Agencies (NCSHA) to Senate Majority Leader Harry Reid (D-NV) urging Congress to restore the Section 1602 LIHTC cash grant exchange program, which was excluded from the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, signed into law earlier this month.

Two pieces of legislation were passed by Congress last week and sent to President Obama for his signature.

On behalf of the entire staff at NH&RA, we wish you a happy and healthy Holiday season!

The U.S. House of Representatives has approved a full-year continuing resolution last week to fund the federal government through the remainder of FY 2011, which ends September 30, 2011.

Both houses of Congress and the White House are reportedly considering varying forms of legislation that could, among other things, extend expiring tax credits provisions.

The White House has announced that the framework agreement announced by President Obama on extending the “2001/2003 Bush Tax Cuts” for an additional two years will also secure a number of expiring business tax credits.

A recent post by the Center on Budget and Policy Priorities reports on the impact of proposed funding cuts to the Section 8 program.

Key Senate and House legislators are reported to be negotiating an omnibus spending measure.